Rep. Carolyn Maloney Announces Fair Pricing with Cost Transparency Act

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Rep. Carolyn Maloney, D-N.Y., has issued a discussion draft of a bill that would require contractors to provide uncertified cost information if requested to ensure that the government is paying a fair price on services and products they procure from companies.

The Fair Pricing with Cost Transparency Act “will enable government contracting officers to ensure the government is paying a fair price. I urge my colleagues on both sides of the aisle to work with me on this reform,” Maloney, chairwoman of the House Oversight and Reform Committee, said in a statement published Wednesday.

The proposed legislation would apply to the Department of Defense and other government agencies as well as contracts a year after the measure’s enactment.

The measure would also direct agencies to submit a congressional report on their compliance within 18 months of the bill’s passage.

Maloney co-sponsored the bill with Reps. Ro Khanna, D-Calif., chairman of the House panel’s subcommittee on environment; Stephen Lynch, D-Mass., chairman of the subcommittee on national security; and Jackie Speier, D-Calif.

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