DOD finalizing $1B spending plan to mitigate inflation on some contracts

By Tony Bertuca / March 15, 2023 at 4:00 PM
The Defense Department is finalizing a proposal for how to spend more than $1 billion lawmakers appropriated for fiscal year 2023 for "revised economic assumptions" related to specific contracts beset by historic inflation, according to Pentagon Comptroller Mike McCord. The FY-23 National Defense Authorization Act contained a provision that, “subject to specified appropriations,” would provide “temporary authority” until Dec. 31, 2023 to modify fixed-price contracts to give economic price adjustments to contractors squeezed by inflation. McCord, who spoke with reporters...

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