Bill > S4374

This bill, the Stop Price Gouging the Military Act, aims to strengthen the Truth in Negotiations Act provisions by expanding the requirement for contractors to provide cost or pricing data, even for contracts with only one offeror. It also revises the definition of "commercial item" for federal procurement purposes by eliminating the "of a type" criterion and removing items and services merely offered for sale. Additionally, the bill establishes a Progress Payment Incentive Pilot Program to incentivize contractors to meet Department of Defense goals for effectiveness, efficiency, and increasing small business contract opportunities. Lastly, the bill requires large defense contractors to annually report detailed information about their pricing strategies, revenue, and costs, which will be publicly disclosed.