GOP senator threatens to block contract fraud loophole

[lovuian]

http://www.signonsandiego.com/news/business/20080312-1420-contractfraud.html

GOP senator threatens to block contract fraud loophole if Bush administration won't

WASHINGTON – The Senate Finance Committee's top Republican threatened Wednesday to push legislation to plug a multibillion-dollar loophole in a crackdown on contracting fraud if the Bush administration exempts overseas contractors.

Sen. Chuck Grassley, R-Iowa, called the need to delete the loophole “a no-brainer.”



“Why would you even have to think twice about that rule not being right?” Grassley said. “I intend to keep the heat on to try to get the administration to back off and look out for the taxpayers.”

As originally envisioned, the proposal would require contractors to report evidence of fraud or abuse of taxpayer dollars when their contacts are for $5 million or more. When the proposal was drafted and published for public comment, someone had exempted contractors on overseas projects from having to comply.

Contract fraud has cost taxpayers $14 million in bribes alone out at least $102 billion spent in Iraq and Afghanistan since 2003.

A spokeswoman for the White House Office of Management and Budget, which is reviewing the rule, would not discuss Grassley's demands.

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So if we give overseas contractors our money they can commit fraud and get away with it OMG !!!!!!!!!!!!!!! Close the LOOPHOLE

[spag68]

1. 14 million

IMO that figure is off by a factor of ten, or maybe one hundred. let's not forget, they lost 9 billion.

[lovuian]

2. the GOP is trying to downplay it and make it LOOK like he is

fighting the HUGE FRAUD

where are the DEMS??? snoozing