John Mengucci, president and CEO of CACI International and a 2020 Wash100 Award winner, said the company is coordinating with other firms in the GovCon industry to extend a provision in the Coronavirus Aid, Relief and Economic Security Act that offers reimbursement to contracting personnel who are unable to work due to the COVID-19 pandemic but kept in a "ready state," Inside Defense reported Thursday.
Section 3610 of the CARES Act is set to expire on Sept. 30, and Mengucci said the company will have to find ways how to support those employees once the provision fails to get an extension.
"About 5% of our hours today — billable hours — are covered by 3610, so it's why we're working very, very hard across the industry looking to have 3610 extended," Mengucci said Thursday during a call with analysts. "We all across the industry are feeling very confident we will see 3610 extended."
Mengucci also shared insights on CACI“™s acquisition of Ascent Vision Technologies, a provider of electro-optical, infrared imaging platforms and the X-MADIS counter-unmanned aircraft system.