Increased Transparency in Federal Spending and Subcontracting Data
This law significantly boosts public transparency regarding how federal funds are spent by requiring recipients to disclose the dollar amount of all subcontracts and subgrants. Furthermore, entities receiving federal awards must now report the race, ethnicity, veteran status, and sex of their five most highly compensated officers. This allows citizens to better track taxpayer money and assess diversity among top leadership benefiting from federal contracts.
Key points
Mandatory disclosure of the dollar amount for all subcontracts and subgrants awarded under federal funding.
Requirement to report demographic data (race, sex, veteran status) for the five highest-paid executives in companies receiving federal funds.
The government must update the public spending website within 180 days to include this new, detailed information.
Status:
Expired
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