Cutting Costs on Capitol Hill

Wednesday - 2/25/2009, 3:09pm EST

They're trying to cut costs on Capitol Hill and Senator Carl Levin (D-MI) is leading the way when it comes to looking at the Defense Department.

The Senator has crafted a bill that would require DoD contracts to be reexamined if the cost goes up 25 percent over the initial estimate.

The idea was rolled out last week at President Barack Obama's financial summit, held at the White House last Monday.

Levin was one of many high-profile lawmakers who talked about acquisition at the meeting.

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