Pentagon reshuffles $1.6B to cover shortfalls in working capital funds

By Tony Bertuca / September 28, 2020 at 3:58 PM
Congress has granted the Pentagon approval to reprogram $1.6 billion to shore up the military's working capital funds, which have experienced shortfalls due to the COVID-19 pandemic. A detailed reprogramming document dated Aug. 31 and released today lays out the Pentagon's case for transferring money into working capital funds managed by the Army, Navy and Air Force. For example, the Defense Department told Congress money was required for the Army's Working Capital Fund to cover "losses associated with customer modifications...

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