This bill expands federal spending transparency requirements by requiring contractors and grant recipients to disclose more detailed information about the money they pass down to subcontractors and subgrantees. The legislation specifically requires companies to report the demographics, including race, ethnicity, veteran status, and sex, of their five highest-paid executives, and mandates reporting of the dollar amounts awarded through subcontracts and subgrants. The changes apply to federal awards covered under the existing Federal Funding Accountability and Transparency Act of 2006. The Office of Management and Budget must implement these new reporting requirements within 180 days of the bill's enactment, and federal acquisition regulators must issue final rules based on the changes. This bill affects all federal contractors, grant recipients, and subcontractors who receive federal funding.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.