Senate bill would take aim at cost overruns

Sen. Carl Levin plans to introduce a bill that would require a defense contract to be re-examined if it should run more than 25 percent over its initial estimate, reports Federal News Radio.

The Michigan Democrat told the White House Summit breakout session on procurement that the mandate would create a presumption that a system will not continue if it breaks the 25 percent barrier.

Levin joined several high-profile lawmakers and administration officials on Feb. 23 at the summit to discuss acquisition and the federal workforce during the 90-minute breakout session. Procurement was one of the five breakout sessions.