Increased Federal Spending Transparency: New Reporting Rules
This new law enhances government spending transparency by requiring more information disclosure on subcontracts and subgrants. Citizens will gain better insight into how taxpayer money is spent, potentially helping identify irregularities and increasing accountability. These changes affect both companies and organizations receiving federal funds.
Key points
Companies and organizations receiving federal funds will need to disclose more data about their subcontractors and subgrants.
Information on the gender, race, ethnicity, and veteran status of the five most highly compensated officers of entities receiving funds will be publicly available.
All this data will be accessible on a government website, increasing public oversight of public expenditures.
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