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Code · BILL · 117th Congress · S. 4543 (Reported in Senate) — To authorize appropriations for fiscal year 2023 for military activities of the Department of Defense, for military c... · Sec. 1002

Sec. 1002. Report on budgetary effects of inflation

272 words·~1 min read·/bill/117/s/4543/rs/section-1002·

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Not later than 30 days following the submission of the President’s budget under section 1105 of title 31, United States Code, the Secretary of Defense shall deliver to the congressional defense committees a report on observed and anticipated budgetary effects related to inflation, including— the relevant inflation index used and the estimated and actual inflationary budgetary effects by sub-appropriation account for the previous two fiscal years and the current budget year; the enacted or requested appropriation amount by sub-appropriation; a calculation of estimated budgetary effects due to inflation using the previous fiscal year’s estimated indices compared to those of the current fiscal year; a summary of any requests for equitable adjustment, exercising of economic price adjustment
(EPA)clauses, or bilateral contract modifications to include an EPA, including the contract type and fiscal year and type and amount of appropriation used for the contract; a summary of any methodological changes in Department of Defense cost estimation practices for inflationary budgetary effects; and any other matters the Secretary determines appropriate. Not later than 60 days following the conclusion of the Department of Defense budget mid-year review, the Secretary of Defense shall provide the congressional defense committees with a briefing on— any changes in the observed or anticipated inflation indices included in the report required under subsection (a); any actions taken by the Department of Defense to respond to changes discussed in such report, with specific dollar value figures; and any requests for equitable adjustment received by the Department of Defense, economic price adjustment clauses exercised, or bilateral contract modifications to include an EPA made since the transmission of the report required under subsection (a).
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