Defense contractors would be barred from buying back their stock in bill approved by Senate panel

The Senate Armed Services Committee has passed a bill that would stop defense contractors from repurchasing their own stock unless the Pentagon gives the green light. This move aims to curb potential conflicts of interest and ensure that taxpayer money is used responsibly. By preventing such buybacks, the bill seeks to maintain a clearer separation between corporate profit motives and national defense spending, potentially fostering more ethical practices within the industry. This decision could set a precedent for tighter regulations on defense contractors' financial dealings.