This Monday INSIDER Daily Digest has news on what the Pentagon and military services are doing to help defense contractors weather the impacts of the COVID-19 pandemic and more.
We start off with one of the policies the Defense Department is implementing to mitigate the economic effects of the COVID-19 pandemic on the defense industry:
The Pentagon said today a new payment policy aimed at helping defense contractors weather the impacts of the COVID-19 pandemic is expected to provide industry with $3 billion in cash flow.
Army acquisition chief Bruce Jette spoke with reporters recently on his service's specific efforts to help defense contractors during the outbreak:
The Army's acquisition executive and modernization chief are evaluating daily the potential impacts of the COVID-19 outbreak on the service's major programs and the contractors supporting them. They say while certain events have been paused or rescheduled, they are not yet expecting any significant schedule changes.
An executive summary of a report sent to lawmakers breaks down what U.S. Indo-Pacific Command needs to meet the Pentagon's call to shift to a period of great power competition with countries like Russia and China:
U.S. Indo-Pacific Command needs approximately $20 billion in the next six years to execute the Pentagon's National Defense Strategy, according to a document obtained by Inside Defense.
In an April 1 letter to Small Business Administration officials marked "for official use only," Defense Innovation Unit Director Michael Brown writes the coronavirus has put non-traditional defense suppliers "under intense pressure":
The Defense Department's top official in Silicon Valley wants to ensure struggling technology startups will qualify for emergency small business loans, as he worries companies could instead turn to Chinese and Russian investors.
Document: DIU director's letter to SBA
The Air Force has decided to release $992 million it was withholding from Boeing for work on the KC-46 airborne refueling tanker program:
The Air Force announced today it has reached two significant agreements with Boeing to release $882 million the service had withheld due to continued design challenges with the KC-46 remote visual system and to move ahead with a two-step redesign of the KC-46 remote visual system.