Obama Signs Defense Procurement Overhaul Bill

On Friday, May 22, 2009, President Obama signed the Weapon Systems Acquisition Reform Act of 2009 that will increase competition through reduction of "no bid" contracts and provide tools to prevent cost overruns.

In an unusual display of bipartisanship, the bill passed both the House and Senate unanimously.

President Obama stated that "The purpose of this law will be to limit cost overruns before they spiral out of control. It will strengthen oversight and accountability by appointing officials who will be charged with closely monitoring the weapons systems we're purchasing to ensure that costs are controlled. If the cost of certain defense projects continue to grow year after year, those projects will be closely reviewed, and if they don't provide the value we need, they will be terminated. This law will also enhance competition and end conflicts of interest in the weapons acquisition process so that American taxpayers and the American military can get the best weapons at the lowest cost."

For the complete text of the President's comment's visit the White House website.

Visit The Seattle Times website to read their story on the new law.

To view the complete legislation as passed by the House and Senate and signed by the President, click here.