House moves to close contract fraud loophole

[maddezmom]

Source: AP

WASHINGTON (AP) - The U.S. House today voted to close a multibillion-dollar loophole in a crackdown on contract fraud, approving plans to force the Bush administration to act within six months.

It's not clear if the Senate will follow with similar legislation.

At issue is a Bush administration rule requiring government contractors to report misuse of taxpayer dollars to the Justice Department. The rule included a loophole to exempt contracts performed overseas.

More than $102 billion has been spent on government contracts in Iraq and Afghanistan alone in the last five years.



Read more: http://www.wcax.com/global/story.asp?s=8217108

[indepat]

1. You can bet Uncle Sam got full value for every one of those $102 billion

:D

[pattmarty]

2. Yeah, not like those dishonest Democrats who give away money to welfare cheats.

:sarcasm:

[maddezmom]

3. updated link:

WASHINGTON - The House voted Wednesday to close a multibillion-dollar loophole in a crackdown on contract fraud, approving plans to force the Bush administration to act within six months.

~snip~

"I don't totally trust the administration to get it right and I'm skeptical of their explanation that this was quote, a mistake," Welch said Wednesday. "Words don't mysteriously appear on their own. So the statute gives us assurance that it'll happen."

The administration since has stripped the loophole from the proposed rule, which likely will be finalized later this year. At the House hearing, a top official for the White House Office of Management and Budget predicted the exemption would not be included in the final rule.

The Justice Department said has charged at least 46 people in investigations over the past several years into kickbacks, bribes and other abuses of government-funded contracts in Iraq, Afghanistan and Kuwait. It opposed the loophole.

more:http://news.yahoo.com/s/ap/20080424/ap_on_go_co/contract_fraud;_ylt=AvVx9JJjoCC22zgqViM3x_c8KbIF