A bill to amend the Buy American Act to require that certain Federal contracts be made with the lowest domestic bidder, and for other purposes.

Amends the Buy American Act to permit the purchase of a foreign-made product only if the price of such product is the lowest bidded after such price is multiplied by a factor determined by the Secretary of the Treasury which shall reflect the loss to the economy of the United States of such foreign purchase, including lost Federal, State, and local tax revenues and increased unemployment which may result. Prohibits the awarding of any contract to any foreign country which involves a national security item or a transfer or delay of technological advancement in the United States.