The Cost Openness and Spending Transparency Act requires federal agencies and any organizations receiving federal funds—including state and local governments, research institutions, and contractors—to clearly disclose funding details whenever they describe a publicly funded program, project, or activity. Specifically, they must state the percentage and dollar amount of federal funding, as well as the percentage and dollar amount of non-federal funding, in statements, press releases, proposals, and similar documents (excluding brief social media posts). The bill requires recipients to certify their compliance as part of progress reports and establishes an annual review by the Office of Management and Budget to audit a random sample of communications for compliance, with results made public. Within one year of enactment, the OMB must also create an anonymous reporting mechanism allowing the public to flag non-compliant communications. The legislation aims to increase transparency about how federal taxpayer dollars are spent across government programs and federally funded projects.
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