A bill to repeal the Davis-Bacon Act and the Contract Work Hours Standards Act, and related provisions of law.

Repeals the following provisions of Federal law: (1) the Davis Bacon Act (as amended 40 U.S.C. 276a-276a-5); (2) the Contract Work Hours Standards Act (40 U.S.C., ch. 5); (3) all legislation which is subject to Reorganization Plan Numbered 14 of 1950 (64 Stat. 1267); and (4) section 1499 of 28 U.S.C. (relating to liquidated damages from contractors under the Contract Work Hours Standards Act).

Provides that this Act shall take effect 60 days after its enactment, but shall not effect any contract then existing or any contract that may thereafter be entered into pursuant to invitations for bids that are outstanding at the time of the enactment of this Act.