Last week, the House of Representatives and the Senate each voted to pass the Budget Control Act of 2011 (“Act”) raising the nation’s debt limit and averting the real threat of a default on our debt obligations. President Barack Obama promptly signed it into law the same day, narrowly averting default (Public Law 112-35). However, … Continue Reading
This post was also written by Steven D. Tibbets. In early 2011, Congress passed the James Zadroga 9/11 Health and Compensation Act of 2010 (“9/11 Act”). A last-minute amendment to the statute imposed a two-percent excise tax on foreign contractors to fund health benefits for 9/11 emergency responders. The tax has been much remarked-upon, but we … Continue Reading
This post was also written by Steven D. Tibbets. On December 3, 2010, the U.S. Department of Defense (“DoD”), issued a proposed rule that, if finalized, will increase the DoD Federal Acquisition Regulation Supplement’s (“DFARS”) requirements for contractors’ business systems. The proposed rule defines what constitutes a deficient business system and provides for withholding of payments … Continue Reading
This post was also written by Steve Tibbets. “Major systems” are the lifeblood of large defense contractors. The long-term development and implementation of big and expensive programs – think fighter jets – are the foundation of many contractors’ business plans. Generally, contractors that design systems, buildings, or vehicles for the Government are not supposed to … Continue Reading