Senator Joni Ernst introduces SWAMP Act to relocate government agencies, potentially impacting CSCO, BA, LMT

From Nasdaq: 2025-01-15 21:27:27

A new bill, the Strategic Withdrawal of Agencies for Meaningful Placement Act (SWAMP Act), aims to relocate executive agency headquarters out of the Washington metropolitan area. The bill establishes a competitive bidding process for states and local governments to attract these agencies based on economic factors, mission relevance, and national security concerns.

The SWAMP Act prohibits major renovations, lease renewals, and new lease agreements for agencies currently located in the Washington metropolitan area. It requires a competitive bidding process for agencies to request relocation, with considerations including economic impact, mission relevance, and national security concerns.

Companies like Cisco Systems (CSCO), Boeing (BA), and Lockheed Martin (LMT) may be impacted by changes in agency locations due to their involvement in technology, government contracts, and defense operations. The bill does not authorize additional federal funding beyond what is allocated for the Administrator of General Services.



Read more at Nasdaq: Senator Joni Ernst introduces S. 22: Strategic Withdrawal of Agencies for Meaningful Placement Act