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1 (1988)

handle is hein.cbhear/cblhaepe0001 and id is 1 raw text is: AMENDMENTS TO THE PROMPT PAYMENT ACT THURSDAY, MARCH 17, 1988 HOUSE OF REPRESENTATIVES, LEGISLATION AND NATIONAL SECURITY SUBCOMMITTEE OF THE COMMITTEE ON GOVERNMENT OPERATIONS, Washington, DC. The subcommittee met, pursuant to notice, at 10:10 a.m., in room 2154, Rayburn House Office Building, Hon. Jack Brooks (chairman of the subcommittee) presiding. Present: Representatives Jack Brooks, Ben Erdreich, Gerald D. Kleczka, Frank Horton, and Robert S. Walker. Subcommittee staff present: Richard C. Barnes, staff director; Cynthia W. Meadow and Chris P. Cooper, professional staff mem- bers; Mary V. Heuer, staff member; and Natalie Hidalgo, secretary; full committee staff: Donald W. Upson, minority staff director; and David Jeffery, minority professional staff, Committee on Govern- ment Operations. OPENING STATEMENT OF CHAIRMAN BROOKS Mr. BROOKS. The subcommittee will come to order. This morning we are considering amendments to the Prompt Payment Act of 1982. The Prompt Payment Act was passed in an effort to improve the Government's bill paying record. We believed that paying vendors on time would be an incentive for more ven- dors to do business with the Federal Government. The result should be increased competition for Federal contracts, and, there- fore, better prices for the goods and services the Government buys. The Prompt Payment Act is one of several management improve- ment efforts that the Government Operations Committee has ag- gressively supported. Others include the Inspector General Act, the Federal Managers' Financial Integrity Act, the Single Audit Act, and Economy and Efficiency Act Amendments. In the last Congress, the subcommittee held an oversight hearing to determine how well the Prompt Payment Act was being imple- mented. We found then that, after the act's passage, the percentage of on-time Government bill paying improved. In addition, Prompt Payment Act provisions, as a basis for improved financial manage- ment, have saved the Government hundreds of millions of dollars. Unfortunately, we also learned that some agencies are not fol- lowing the act's requirements. The problems found were many and varied. For example, some agencies are improperly taking dis- counts and failing to automatically pay interest on late payments. In response to a Government Operations Committee recommen- dation, last year the OMB issued revised guidelines on implementa- (1)

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