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WATCH LIVE: House Oversight On Defense Contractor Price Gouging

Defense contractors are making 4000% profit but we can’t afford clean water in Flint? Bloomberg:

a Pentagon is weighing legislation that would give contracting officers a power to dem& back-up data on spare parts costs after its inspector general said TransDigm Group Inc. could be paid about 9,400% in excess profit for a half-inch metal pin.

a Defense Logistics Agency could end up paying TransDigm $4,361 for a “drive pin” in a July contract that should cost $46, according to a Pentagon review endorsed by a inspector general.

a inspector general’s report “exposes how a company entrusted with supporting our military men & women took advantage of American taxpayers by overcharging a government more than $16 million” in parts sales sold between 2015 & 2017, Oversight Chairman Elijah Cummings said in a statement. a hearing will “investigate whear ase pricing issues are more widespread, & dem& answers,” he said.


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Original post by Frances Langum and software by Elliott Back

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