This bill expands transparency requirements for federal spending by requiring contractors and grant recipients to report detailed information about subcontracts and subgrants they award to other organizations. The legislation also requires reporting on the race, ethnicity, veteran status, and sex of the five highest-paid officers at contracting entities. The bill affects federal contractors, grant recipients, and subcontractors who work on federally funded projects across government agencies. The Office of Management and Budget must update the federal spending transparency website to include this new data within 180 days of the law's enactment, with annual data collection beginning in the fiscal year after passage. The Federal Acquisition Regulatory Council is directed to develop implementing regulations based on public feedback.
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