Hidden in the New House Coronavirus Relief Bill: Billions for Defense Contractors

[Boats]

Hidden in the New House Coronavirus Relief Bill: Billions for Defense Contractors
By:Jake Pearson of ProPublica News 05-28-20
Re: https://www.propublica.org/article/h...se-contractors

This report is too long to post but I highly recommend you read this article.

A section of the HEROES Act championed by Virginia Democrat Gerry Connolly would cover executive compensation and other perks for defense and intel contractors. The legislation’s wording mirrors what an industry group proposed.

Note:
We - The Taxpayer's price tag for the section would be enormous. Plus all payroll for Executive compensation, fees and other expenses would be on top of that.

The HEROES Act language introduces its own ambiguity about what firms can charge when it comes to what are referred to as “fees.”

That language made it into the HEROES Act, which defined “minimum applicable contract billing rates” to include costs “such as the base hourly wage rate of an employee, plus indirect costs, fees, and general and administrative expenses.”

At issue is a section in the CARES Act that reimburses contractors at “minimum applicable contract billing rates.”

Larry Hanauer, the group’s vice president for policy, suggested that the term “minimum applicable contract billing rates” should mean “an employee’s base hourly wage rate, plus indirect costs, fees, and general and administrative expenses.”

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These HEROES ACT Companies will be fully reimbursed during the shutdown - paid for by the People of the United States of America. So they (or their personnel) haven't lost a DIME during the shut down.

Yep they got us again! And our Government will pay them all. Hence "We The People" got in the ass again while Big Corps got a Contract that prevents any financial losses. Wow!
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Boats