Duncan Hunter National Defense Authorization Act for FIscal Year 2009
Floor Speech
DUNCAN HUNTER NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2009 -- (House of Representatives - May 22, 2008)
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(b) Amendment.--Subsection (d) of section 19 of the Office of Federal Procurement Policy Act (41 U.S.C. 417(d)) is amended to read as follows:
``(d) Transmission and Data Entry of Information.--The head of each executive agency shall ensure the accuracy of the information included in the record established and maintained by such agency under subsection (a) and shall timely transmit such information to the General Services Administration for entry into the Federal Procurement Data System referred to in section 6(d)(4), or any successor system.''.
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Mr. MURPHY of Connecticut. I would like to thank Chairman Waxman for putting this very valuable amendment before us today. We've spent an awful lot of time on the Government Oversight Committee looking into the contracting practice of the Federal Government. I think this goes a very long way towards safeguarding our taxpayer dollars, and also shining some transparency on it, which is the piece of the amendment that I would like to speak on today.
This amendment includes legislation that passed the House on voice vote several weeks ago, the Government Funding Transparency Act. The act requires that companies that make almost every penny of their revenue from the Federal Government, essentially quasi-public agencies, requires them to disclose to the American public the amount of profit that they're taking off of those contracts. These companies making over 80 percent of their money shouldn't be allowed to hide this type of financial data from the American taxpayers.
I would like to thank Ranking Member Davis for working through this bill as it moved through the committee process. This really has moved from a contracting bill to a disclosure bill, one that I think is going to give the American public and this Congress the access to the data that they should have when we are awarding large contracts to essentially government agencies that don't have the requirements that other agencies and public vendors do.
I would like to thank Chairman Skelton as well for working through this amendment as we brought it forth today. I support its passage and the underlying legislation.
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