A bill to establish in procurement by Federal agencies and in procurement using Federal funds a reasonable and fair preference for domestic products and materials, and to establish procedures to ensure that only freely and fairly traded foreign products and materials are procured by Federal agencies and are procured using Federal funds.

[AI summary unavailable — showing source text] Establishes a preference for domestic goods in government procurement. Requires that domestic articles and materials be purchased for: (1) procurement by Federal agencies and procurement funded at least 50 percent by Federal funds; and (2) the construction of any public building or public work which is financed at least 50 percent by Federal funds. Defines "domestic article" for purposes of this Act to be any article of which 75 percent of the delivered price is attributable to U.S. sources. Allows for exceptions to such preference if the domestic product can not be obtained in sufficient quantity or quality, or if the cost of such product is excessive. Extends the preference for domestic goods to subcontracts which form ten percent or more of the total delivered price of the procured product. Stipulates that the procurement preferences provided for in this Act shall not apply to the procurement of goods to be used outside the United States, or for purchases inconsistent with the public interest. Requires the Administrator of Federal Procurement Policy to issue regulations which state that the cost of domestic products is excessive if such cost exceeds the cost of similar foreign p…