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Lauding what he says were successes of the first Trump administration to streamline the Pentagon’s bureaucracy, L3Harris Technologies [LHX] Chairman and CEO Chris Kubasik this week offered recommendations to the incoming administration’s government efficiency team to ease duplicative requirements on defense contractors and accelerate acquisition. The first of four recommendations calls for eliminating Cost Accounting Standards (CAS) for traditional defense contractors who are also required to follow Generally Accepted Accounting Principles (GAAP) by the Securities and Exchange Commission, resulting in…
