Industry groups led by the US Chamber of Commerce are lobbying against a proposed amendment to the National Defense Authorization Act for fiscal 2027 that would bar defense contractors from buying back their own stock, CNBC reported Monday.

The amendment, proposed by Reps. Chris Deluzio and John Garamendi, is under consideration by the House Rules Committee and would prohibit the Department of Defense from contracting with companies that conduct share repurchases, with waivers available at the Pentagon's discretion, according to the report.

The House is expected to vote on the NDAA later this week, CNBC said.

The Chamber, the Aerospace Industries Association and Business Roundtable warned in a letter to the Rules Committee that the ban raises concerns about "an unprecedented expansion of the federal government's role in restricting lawful corporate governance," according to CNBC.

The amendment could affect major defense contractors including Boeing (BA), Lockheed Martin (LMT) and Northrop Grumman (NOC), the report said.