Pelosi Statement on House Passage of Defense Procurement Reform Act
Speaker Nancy Pelosi released the following statement on the Defense Procurement Reform, which passed the House today by a vote of 428 to 0. A report from the Government Accountability Office published in March found that the Pentagon's 96 largest acquisition programs had cost overruns of $296 billion and were on average 22 months behind schedule.
"Every dollar wasted on weapons program cost overruns is a dollar that cannot be invested in protecting our country and the American people. The bipartisan Defense Procurement Reform Act cracks down on cost overruns and will help ensure that taxpayers get the most bang for their buck.
"By substantially beefing up oversight of the Pentagon's system of acquiring weapons, promoting greater use of competition in weapons acquisition and requiring the Defense Department to take steps to prevent conflicts of interests in the acquisition process, we can save taxpayers tens of billions of dollars and ensure that our tax dollars are focused on ensuring that our troops in the field are the best equipped fighting force in the world, rather than wasted on cost overruns.
"Our first obligation as Members of Congress is to protect the American people. This Defense Procurement Reform bill and the Obama Administration's broader procurement reform efforts will help us achieve this mission. I look forward to working with the Senate to finalize this legislation as soon as possible so we can send this critical legislation to President Obama's desk for his signature."