House passes joint NDAA bill for FY23 with vendor inflation relief
Bill adds $45 billion; has small business measures
The House on Dec. 8 approved the $858 billion national defense authorization bill that would add $45 billion to President Joe Biden’s request for the Defense Dept. The department’s portion of the bill is $847 billion.
The Senate is expected to pass the James M. Inhofe National Defense Authorization Act (NDAA) for Fiscal 2023 shortly, and Biden is expected to sign it.
The legislation includes Section 822, which is a provision for “extraordinary relief due to inflation impacts” for federal contractors. The bill gives the Secretary of Defense temporary authority to modify fixed-priced contracts to provide an economic price adjustment.
It also includes a number of small business provisions, although full details on all such provisions were not immediately available...more....
