Pentagon contractors would be required to quickly notify the government of any significant price jumps under the Senate’s annual defense authorization proposals.
Under provisions in the annual bill, contractors would have to flag the cost of a product or service if it jumps by more than 25% from the agreed contract bid or from the price the Defense Department paid for within a year. Contractors also must notify the government if the price is 50% higher than what the government has paid for the same item in the last five years.
The provisions — meant to curtail defense contractor price-gouging ...