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

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.

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Document Details

Document Type
Technical Report
Publication Date
Oct 22, 2008
Accession Number
ADA509956

Entities

People

  • Garrett L. Hatch

Organizations

  • Library of Congress

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Accountability
  • Acquisition
  • Business Administration
  • Commerce
  • Congress
  • Contractors
  • Contracts
  • Department Of Homeland Security
  • Economic Development
  • Government Procurement
  • Governments
  • Homeland Security
  • Law
  • Local Governments
  • Personnel Management
  • Procurement
  • Transparencies

Readers

  • Defense Financial Management and Audit.
  • Government and Public Administration Law.