Digital Accountability and Transparency Act (DATA Act)
The Digital Accountability and Transparency Act of 2014 (DATA Act) expanded the Federal Funding Accountability and Transparency Act of 2006 (FFATA). The purpose of the DATA Act, as directed by Congress, is to:
・Expand FFATA by disclosing direct agency expenditures and linking federal contract, loan, and grant spending information to federal agency programs,
・Establish government-wide data standards for financial data and provide consistent, reliable, and searchable data that is displayed accurately,
・Simplify reporting, streamline reporting requirements, and reduce compliance costs, while improving transparency, and
・Improve the quality of data submitted to USAspending.gov by holding agencies accountable.