The Digital Accountability and Transparency Act (DATA Act) Pub. L. 113-101 was enacted on May 9, 2014. The DATA Act, as directed by Congress, is intended to:
Expand the Federal Funding Accountability and Transparency Act of 2006 (FFATA) to disclose direct Federal agency expenditures; and link Federal contract, loan, and grant spending information to programs.
Establish Federal government-wide standards for financial data; and provide consistent, reliable, searchable, and accurately displayed Federal government-wide spending data.
Simplify reporting for entities that receive Federal funds by streamlining reporting requirements and reducing compliance costs, while improving transparency.
Improve the quality of data submitted to USASpending.gov, by holding Federal agencies accountable for the completeness and accuracy of the data that they submit.
Apply approaches developed by the Recovery Accountability and Transparency Board to spending across the Federal government.
Require agency Inspectors General and the Comptroller General to audit and report on agency compliance with the law's mandates.
The Administration is committed to implementing the DATA Act, the goal of which is to transform the way the government does business by using Federal spending data for management decision making. Additionally, increased accuracy and accessibility of Federal spending data affords the public a more transparent view of government spending.
For more information on implementation of the DATA Act, please visit the Federal Spending Transparency Collaboration Space at http://fedspendingtransparency.github.io/.