WASHINGTON, June 2 -- Sen. Chuck Grassley issued the following news release:
Sens. Chuck Grassley (R-Iowa) and Elizabeth Warren (D-Mass.) introduced a bill to improve transparency into foreign ownership of Department of Defense (DoD) contractors. The legislation would enhance commonsense safeguards to ensure foreign adversaries, illegitimate contractors and other bad actors cannot hide behind anonymous shell companies to bid for and win defense contracts.
The Government Accountability Office (GAO) has repeatedly warned (https://www.gao.gov/assets/gao-20-106.pdf) about the fraud and national security risks opaque contractor ownership poses to the DoD. In one case, GAO found (https://www.gao.gov/assets/gao-25-108500.pdf) a contractor used a...