there's a new regulation that was in the process of being promulgated that did a practical and sensible thing for taxpayers: it required contractors who receive over $5 million of taxpayer money to report fraud when they are aware it happened. At the last minute, there was an exemption that was put in so that foreign contracts were not subject to taxpayer protection. That makes no sense and flies in the face of reason. By exempting overseas contracts, and this is Iraq and Afghanistan particularly, the Bush administration is sending an unambiguous message: it's okay to rip off taxpayers when you spend money abroad; just don't do it at home. Not only must we stop this reckless rule, but we must have answers: What was the rationale for the loophole? How did the loophole get slipped into the proposed rule? And who advocated for it? Through a thorough investigation, we will stop this rule and get some answers.
On the recordMarch 14, 2008
Source
govinfo.govEditor's note · Context
Addressing a regulation exempting foreign contracts from fraud reporting requirements.
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