The TRACKS Act requires federal contractors and grant recipients to publicly report when they pass federal money down to subcontractors or subgrantees located in countries or entities the government designates as adversarial or of concern. Currently, the federal government tracks where direct federal awards go through its transparency database, but this bill closes a gap by requiring disclosure of these secondary payments to foreign entities. The legislation affects any organization receiving federal funds that then distributes portions of that money to foreign subcontractors, as well as the foreign entities receiving those subawards. The Director of the Office of Management and Budget must issue guidance within 90 days of the bill's enactment to establish consistent reporting standards across all federal agencies. This measure aims to give Congress, agencies, and taxpayers better visibility into how federal dollars ultimately flow to countries or entities considered strategic concerns.
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