The bipartisan Congressional Budget Justification Transparency Act, which directs federal agencies to publish more information online about federal spending, was signed into law by President Biden. This bill will make it possible for Congress and the American public to better understand what their government is allocating resources and provide capabilities to analyze how budget proposals.
Congress has advanced multiple bills that promote transparency about government activities and increase the use, availability, and accessibility of open data, including the Congressional Budget Justification Transparency Act yesterday and the Access to Congressionally Mandated Reports Act (H.R. 2485), in July.
Today, the House of Representatives voted to pass the Financial Transparency Act (H.R. 2989). This bipartisan bill, introduced by Reps. Carolyn Maloney (D-NY) and Patrick McHenry (R-NC), directs seven of the major U.S. financial regulatory agencies to adopt consistent data fields and formats, including a non proprietary legal entity identifier.
The new action plan builds on recommendations and advice provided in a public forum hosted a year ago by the Data Coalition and data experts from industry and academia.