HR-6739 : Still Just a Bill

The "Defense Contract Inflation Adjustment Act of 2023" (H.R. 6739) focuses on modifying and extending the President's temporary authority to adjust certain contracts and options in response to inflation's impact. Key provisions include:

• Amendment to Public Law 85-804: This bill amends Section 1 of Public Law 85-804 (50 U.S.C. 1431), relating to defense contracts.
• Specific Funding Use: It allows the Secretary to use specifically provided funds for the purposes of contract adjustments related to inflation.
• Extension of Authority: The bill extends the President's authority to modify contracts and options based on inflation impacts until December 31, 2024.