Bill > S872

This bill enhances transparency in federal spending by requiring the reporting of "other transaction agreements" (specialized contracts often used in defense and research that are not traditional government procurement contracts) to USAspending.gov, the government's public spending transparency website. The bill mandates that the Secretary of the Treasury and the Office of Management and Budget implement a system to automatically transmit data about these agreements to the website within three years of enactment, creating a centralized view of such spending. Additionally, the bill requires an annual report detailing the total amount of federal spending not posted online, with explanations for any omissions, such as national security concerns or grants from legislative or judicial branches. The legislation also strengthens reporting requirements by establishing data quality standards, giving the Treasury and OMB authority to verify the accuracy of posted information, and requiring the Government Accountability Office (GAO) to review and recommend updates to federal acquisition regulations to improve transparency. Ultimately, the bill aims to provide more comprehensive and accessible information about federal spending to the public, closing potential loopholes in current reporting mechanisms.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/senate-bill/872/all-info