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. Defense Department acquisition officials on March 20 temporarily increased progress payments rates for contractors for the duration of the COVID-19 crisis, raising the rate from 80% of cost to 90% for large businesses and from 90% to 95% for small businesses. "We estimate this will result in over $3B...
