White House Ups Cap On Contractor Salary Contributions

Law360, New York (December 5, 2013, 4:06 PM EST) -- The White House on Wednesday raised the cap on what the government will pay toward contractor salaries to nearly $1 million, based on a statutory formula that tracks the top salaries of private sector executives, a move that drew criticism from both contractors and federal employees.

The Office of Federal Procurement Policy announced the move in a Federal Register notice, saying that its hands are tied by the statutory formula that bases the cap on the pay of private sector executives. The change applies to contracts...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.