On December 25, 2024, Congresswoman Robin Kelly (IL-02) introduced the Increasing Transparency and Accountability in Federal Spending Act (H.R. 10394), a bicameral effort aimed at improving the transparency of federal spending. The legislation seeks to include demographic data of recipients of federal loans and grants, such as ethnicity, race, and sex. This initiative is supported by a companion bill introduced by U.S. Senator Cory Booker (D-NJ) [178f01f1].
The proposed bill amends the Federal Funding Accountability and Transparency Act, enhancing data reporting requirements for federal awards exceeding $30,000. This move is designed to provide a clearer picture of how federal funds are distributed and to whom, thereby promoting accountability in government spending [178f01f1].
Endorsements for the bill have come from several prominent organizations, including the Project on Government Oversight (POGO), Ariel Investments, and the National Association of Securities Professionals. Janice Luong from POGO emphasized the necessity for accountability in government spending, while John W. Rogers Jr. from Ariel Investments highlighted the importance of data in addressing economic disparities [178f01f1].
The introduction of this legislation reflects a growing recognition of the need for transparency in federal financial operations, particularly in light of ongoing discussions about equity and access to government resources. As the bill progresses through Congress, it could significantly impact how federal spending is monitored and reported, potentially leading to more equitable distribution of funds [178f01f1].