The House has passed and set to the White House the DATA Act, designed to standardize federal spending data and ensure it is made available online to provide more transparency regarding federal spending.
The bill (S-994) would expand the USASpending site to include all federal spending. It requires the Treasury to establish common standards for financial data provided by all government agencies so that data from multiple systems can be compared more readily.
In addition, OMB will be required to conduct a two-year pilot program to make it easier for federal contractors and grant recipients to comply with federal reporting requirements.
OMB, GAO and agency IGs would have to submit additional reports to the Congress.
