Defense Industry Pricing Transparency Act

New price-hike reports for defense contractors

This would require contractors on noncompetitive Defense contracts to report large price increases to the contracting officer. They would have 30 days after they learn a price meets a threshold. A report would be required at 25% above the contract bid price. Or 25% above what the government paid in the prior calendar year. Or 50% above a price the government paid more than five years earlier. If a contractor does not report, the Defense Contract Audit Agency director or a service acquisition executive would post details in the federal performance and integrity database (FAPIIS), including the contractor, item ID, national stock number, quantity, unit cost, total cost, the buying or paying agency, and the order date. This would apply only to contracts awarded without competition. The change would take effect upon enactment.