The War Profiteering Prohibition Act of 1985: Hearing Before the Subcommittee on General Oversight and Investigations of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-ninth Congress, First Session, on H.R. 3020 ... October 30, 1985 |
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Common terms and phrases
additional amount analysis annual assets basis believe bill CARROLL HUBBARD Chairman HUBBARD commercial business Committee competition Congress Congressman contract price CONTRACTING OFFICER contractor profits corporate Cost Accounting Standards cost estimates costs of compliance defective pricing defense contracts Defense Department defense profits Department of Defense DFAIR division earned excessive profits filing fiscal GONZALEZ Greg Carter Grenough hearings Hewlett-Packard included investment issue KAPTUR KAUFMAN legislation low profits MATH MCCANDLESS ment million October 24 operating profits Oversight and Investigations percent performance Presto problem procurement product line renegotiation profit limitations profit policy Profiteering Prohibition Act proposed reason record regulations reinstate the Renegotiation renego renegotiable sales Renegotiation Act Renegotiation Board requirements result return on assets Secretary segments spare SPECTOR statement Subcommittee subcontractor submitted Tenneco testimony Thank Tolley Truth in Negotiations USG business Vinson-Trammell Vinson-Trammell Act
Popular passages
Page 6 - Changes in Existing Law Made bt the Bill, As Reported In compliance with clause 3 of rule XIII of the Rules of the House of Representatives, changes in existing law made by...
Page 147 - Competitiveness is the degree to which a nation can, under free and fair market conditions, produce goods and services that meet the test of international markets while simultaneously maintaining or expanding the real incomes of its citizens.
Page 34 - Government to procure property and services from responsible sources at fair and reasonable prices calculated to result in the lowest ultimate overall cost to the Government.
Page 8 - ... subcontracts shall not, for such fiscal year, be renegotiated under this title. If the aggregate of such amounts received or accrued during the fiscal year under such...
Page 7 - ... the aggregate -of the amounts received or accrued in such fiscal year by the contractor or subcontractor and all persons under the control of or controlling or under common control with the contractor or subcontractor, under contracts with the Departments and subcontracts...
Page 7 - ... it shall, at the request of the contractor or subcontractor, as the case may be, prepare and furnish such contractor or subcontractor with a statement of such determination, of the facts used as a basis therefor, and of its reasons for such determination.
Page 8 - ... be reduced to an amount which bears the same ratio to $1,000,000 or $25,000, as the case may be, as the number of days in such fiscal year before the close of the termination date bears to 365.
Page 6 - Board reviews any determination in any case not initially conducted by it and does not make an agreement with the contractor or subcontractor with respect to the elimination of excessive profits...
Page 7 - The Board shall exercise its powers with respect to the aggregate of the amounts received or accrued during the fiscal year (or such other period as may be fixed by mutual agreement) by a contractor or subcontractor under contracts with the Departments and subcontracts, and not separately with respect to amounts received or accrued under separate contracts...
Page 6 - ... and related subcontracts, which are determined under regulations prescribed by the Board to be reasonably attributable to performance prior to the close of the status termination date.