Press Release

House Armed Services Committee Chairman Howard P. "Buck" McKeon (R-CA) and Ranking Member Adam Smith (D-WA) today announced the formation of a bipartisan Defense Business Panel. The Chairman and Ranking Member tapped Rep. Bill Shuster (R-PA) and Rep. Rick Larsen (D-WA) to lead the panel.

They will examine the current defense business environment, to identify contracting or regulatory issues facing the defense industry; the use of incentives and mandates to meet established goals; structural challenges facing various sectors within of the industrial base, including universities and research institutes; impact of the current fiscal environment on the defense industry, at both the prime and subcontractor levels; and opportunities to reduce barriers to entry. The Panel will explore how the Department of Defense can encourage new entrants into the industrial base and foster the transition of technology.

"In a time of shrinking budgets and reduced federal spending it is critical that Congress explores ways to streamline defense contracting and reduce regulatory burdens that hamper business growth and prevent companies from entering the defense industry," said Congressman Bill Shuster. "This panel will play an important role in helping to create jobs and improve our economy. I thank Chairman McKeon for selecting me for this panel and I look forward to the work ahead of us."

"The Pentagon must do everything possible to encourage competition and implement improvement within defense contracting. Doing so will not only help create new jobs across the country, but will promote better products and services for the military during a time of budgetary restraints. I am pleased to be joining Rep. Shuster in this effort and look forward to starting our work." Rep. Larsen said.

The panel, in addition to Mr. Shuster and Mr. Larsen, includes Rep. Allen West (R-FL), Rep. Betty Sutton (D-OH), Rep. Jon Runyan (R-NJ), Rep. Colleen Hanabusa (D-HI), and Rep. Bobby Schilling (R-IL).