Henry Waxman: “The system has failed because the Bush administration paid 97 percent of the charges that the Pentagon auditors found to…”

“The system has failed because the Bush administration paid 97 percent of the charges that the Pentagon auditors found to be unreasonable. So our amendment is structured to apply in the future. We will have a chance to continue to look at this. I feel comfortable that this is not going to jeopardize anything that is going on in Iraq today and certainly not the existing contracts such as the ongoing logistical contract which Halliburton still has; but for the future, if any company has overcharged by $100 million, we should not be rushing out there and giving them a new contract. Existing contracts are existing contracts. They should not be rewarded for that overcharging.”