Wartime Defense Profit Control Act

[AI summary unavailable — showing source text] Wartime Defense Profit Control Act - Amends the Renegotiation Act of 1951 and the Vinson-Trammell Act to give the President power to control excessive profits on defense contracts upon a declaration of war by Congress. States that any such Presidential regulations shall become effective if neither the House nor the Senate passes a disapproving resolution within 30 days. Limits the duration of such regulations to a maximum of five years, unless extended by Congress. Vests jurisdiction over related claims in the United States Court of Claims. Repeals the provision regarding profit limitations on naval ship construction contracts.…