Us Congress House Bill HB9090

Us Congress 2023-2024 Regular Session

• Introduced: 7/22/24
• Refer: 7/22/24

Caption

TRACKS Act Tracking Receipts to Adversarial Countries for Knowledge of Spending Act

Impact

If enacted, the TRACKS Act would significantly change the reporting requirements for federal award recipients. The bill mandates that recipients disclose information about subawards to foreign entities and ensure compliance with new guidelines to be issued by the Director of Federal funding agencies. This aims to provide better oversight concerning how taxpayer money is allocated and spent internationally, highlighting the importance of safeguarding U.S. financial interests against potential exploitation by adversaries.

Summary

House Bill 9090, known as the TRACKS Act (Tracking Receipts to Adversarial Countries for Knowledge of Spending Act), seeks to amend the Federal Funding Accountability and Transparency Act of 2006. The bill's primary goal is to enhance transparency and accountability in federal spending by requiring recipients of federal awards to collect and report data relating to subawards given to entities outside the United States. This measure is aimed at ensuring that the utilization of federal funds is accurately tracked, particularly when they contribute to activities involving foreign nations that are considered adversarial to U.S. interests.

Contention

The main points of contention surrounding HB9090 revolve around concerns regarding the feasibility and implications of increased reporting obligations. Critics argue that the new requirements could impose additional administrative burdens on organizations receiving federal funds. There are fears that smaller organizations, especially those engaged in humanitarian or development work, may struggle with the increased levels of bureaucracy. On the other hand, supporters contend that the bill is a necessary step towards protecting national interests and ensuring taxpayer dollars are not inadvertently supporting hostile entities.