Mike Thompson: “I will offer three technical amendments on behalf of myself as chairman of the Governmental Affairs Committee and…”

“I will offer three technical amendments on behalf of myself as chairman of the Governmental Affairs Committee and Senator Glenn, the Committee's ranking minority member, and Senators Thurmond, Levin, Santorum, and Lieberman. Senator Glenn and I thank the chairman and ranking member of the Armed Services Committee for their cooperation and assistance in preparing these amendments which will benefit not only the procurement process within the Department of Defense, but other agencies across the Federal Government as well. The National Defense Authorization Act for Fiscal Year 1998 included a provision prohibiting executive agencies from reimbursing the salaries (in cost-type contracts) of contractors' senior executives in excess of the median income for senior executives in all publicly-traded corporations ($340,000 per year). The provision was intended to apply to the five most highly-paid executives of a defense contractor, and of each division of the contractor. However, the provision caused unnecessary confusion as to which contractor officials were covered, because it used terms that are not currently defined in statute or regulation.”