Defense Industry Pricing Transparency Act

This bill would require companies holding certain Defense Department contracts to report to the contracting officer when the price of a product or service rises above set levels. A report would be due within 30 days after the company learns the price has reached 25 percent above its bid price, 25 percent above what the government paid in the prior year, or 50 percent above what the government paid before the previous five years. If a company does not file the report, defense officials would have to list the company, the product or service, and order details in a federal contractor performance database. The rule applies to contracts awarded without full competitive bidding.

Full text and official record on Congress.gov

Sponsors

• Christopher R. Deluzio Democrat sponsor
• 0 cosponsors