To amend title 10, United States Code, to require cost or price to the Federal Government be given at least equal importance as technical or other criteria in evaluating competitive proposals for defense contracts.

Requires that, in the evaluation of competitive proposals for defense contracts, cost or price to the government be given at least equal importance as all other evaluation factors combined. Allows the waiver of such requirement by the agency head concerned. Directs the Secretary of Defense (DOD) to submit to Congress, and post publicly, a report on each waiver issued.