Us Congress House Bill HB10394

Us Congress 2023-2024 Regular Session

Caption

To expand reporting on subcontracts and subgrants made under Federal awards, and for other purposes.

Impact

If passed, HB 10394 would create more stringent reporting obligations for federal spending, thereby increasing transparency about how federal funds are allocated and spent by contractors and sub-contractors. This added layer of reporting is expected to help in identifying disparities in hiring and compensation practices among federal award recipients. By making this information publicly accessible, the bill aims to enhance accountability in the use of public funds.

Summary

House Bill 10394, titled the 'Increasing Transparency and Accountability in Federal Spending Act,' aims to enhance the reporting requirements for subcontracts and subgrants that are made under Federal awards. The bill proposes amendments to the Federal Funding Accountability and Transparency Act of 2006 to include additional data that recipients of federal funds must report. This includes information about the race, ethnicity, veteran status, and sex of highly compensated officers of the entities that receive these federal awards.

Conclusion

Overall, HB 10394 represents a significant step toward greater governmental transparency regarding federal spending practices. As discussions progress, the balance between accountability and maintaining an accessible contracting process for businesses will be paramount in shaping the final provisions and outcomes of this legislation.

Contention

The introduction of this bill may bring to light various points of contention regarding its implementation and potential implications for businesses involved in federal contracting. Some critics argue that the additional reporting requirements could place an undue burden on small businesses, potentially discouraging them from pursuing federal contracts. Proponents of the bill, however, argue that the benefits of increased transparency and accountability far outweigh the drawbacks, noting that it could lead to improved diversity and equity in government contracting.