Accession Number:

ADA509956

Title:

The Federal Funding Accountability and Transparency Act: Implementation and Proposed Amendments

Descriptive Note:

Congressional rept.

Corporate Author:

LIBRARY OF CONGRESS WASHINGTON DC CONGRESSIONAL RESEARCH SERVICE

Personal Author(s):

Report Date:

2008-10-22

Pagination or Media Count:

17.0

Abstract:

On September 26, 2006, President Bush signed the Federal Funding Accountability and Transparency Act FFATA into law P.L. 109-282. In an attempt to expand oversight of federal spending, including earmarks, the new law required the Office of Management and Budget OMB to establish a publicly available online website that provides access to information about entities that are awarded federal grants, loans, contracts, and other forms of assistance. Federal agencies award over 880 billion dollars annually in three of the primary categories of financial assistance that are included in the database - 470 billion in grants, 381 billion in contracts, and 29 billion in direct loans. The FFATA was endorsed by leaders of both parties and an array of business, union, and watchdog organizations.

Subject Categories:

  • Economics and Cost Analysis

Distribution Statement:

APPROVED FOR PUBLIC RELEASE