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The Federal Funding Accountability and Transparency Act of 2006 (S. 2590) [2] is an Act of Congress that requires the full disclosure to the public of all entities or organizations receiving federal funds beginning in fiscal year (FY) 2007.
The Federal Funding Accountability and Transparency Act of 2006 delegated responsibility for creating the website to the Office of Management and Budget. On May 9, 2017, Steven Mnuchin, the United States Secretary of the Treasury, announced that he updated the site, providing a much broader view of government spending. [2]
In 2006, legislation co-sponsored by then-senator Barack Obama (D) and then-senator Tom Coburn (R) — the Federal Funding Accountability and Transparency Act of 2006 — was passed to allow public access to United States Federal Government spending. [3]
Barack Obama sponsored 147 bills from January 4, 2005 until November 16, 2008. Two became law. [1] This figure does not include bills to which Obama contributed as cosponsor, such as the Coburn-Obama Federal Funding Accountability and Transparency Act of 2006 or the Lugar-Nunn Cooperative Proliferation Detection, Interdiction Assistance, and Conventional Threat Reduction Act of 2006.
The effort aimed to increase transparency and change the industry’s compensation structure, said Ross Margulies, partner at Manatt, Phelps & Phillips, a law firm specializing in health care.
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Digital Accountability and Transparency Act of 2014; Long title: To expand the Federal Funding Accountability and Transparency Act of 2006 to increase accountability and transparency in Federal spending, and for other purposes. Announced in: the 113th United States Congress: Sponsored by: Sen. Mark R. Warner (D, VA) Number of co-sponsors: 1 ...
The law, which takes effect Jan. 1, has far-reaching implications for many business owners.