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00:02The Senate Armed Services Committee approved its version of the National Defense Authorization Act 18-9, according to CNBC.
00:09The bill includes a provision that would bar major defense contractors from conducting stock buybacks or paying dividends without Pentagon
00:16approval.
00:16Section 815 of the bill would prohibit the Defense Department from signing contracts with any contractor that has not agreed
00:24in writing to halt buybacks and dividend payments.
00:26The measure, which takes effect June 15, 2027, was backed on a bipartisan basis and applies to companies such as
00:34Lockheed Martin, Northrop Grumman, and Boeing.
00:37Contractors found in violation face suspension of contract payments and loss of eligibility for future contracts.
00:43The House did not include the provision in its version of the bill.
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