Sens. J.D. Vance (R-Ohio) and Josh Hawley (R-Mo.) have introduced legislation to prevent further accounting errors at the Department of Defense (DOD) after a “valuation error” came to light recently at the Pentagon amounting to over $6 billion.
The draft bill (pdf) aims to amend the Foreign Assistance Act of 1961 to require the Pentagon to use accounting methods that capture the true cost to taxpayers of sending weapons to other countries from U.S. stockpiles.
“This legislation will save American taxpayers from footing the bill for shoddy accounting at the Pentagon,” Mr. Vance said in a statement. “There should be no excuse for accounting errors with a seven-figure price tag. With this bill, Congress can ensure that the cost of our military aid is properly and consistently calculated.”…