H.R.2917 - Tracking Receipts to Adversarial Countries for Knowledge of Spending Act; TRACKS Act (119th Congress)
Summary
H.R.2917, the TRACKS Act, aims to increase transparency in federal spending by requiring the tracking and reporting of subawards given to entities located in or considered a foreign entity of concern. This bill amends the Federal Funding Accountability and Transparency Act of 2006 to include specific reporting requirements for these 'covered subawards'. The goal is to provide greater visibility into how taxpayer dollars are being distributed internationally, particularly to countries and entities that may pose a risk to national security or economic interests.
The bill defines key terms such as 'covered subaward' and 'prime award recipient' to clarify the scope of the reporting requirements. It mandates that recipients of covered subawards disclose data in the same manner as other subawards, ensuring consistency in reporting practices. The Director is tasked with issuing guidance within 90 days to ensure uniform compliance across agencies and recipients.
Ultimately, the TRACKS Act seeks to enhance oversight and accountability in federal spending, allowing for better-informed decisions regarding resource allocation and risk management related to foreign entities.
Expected Effects
The TRACKS Act will likely lead to increased reporting burdens for entities receiving federal funds and providing subawards. This could result in higher administrative costs for these organizations. The increased transparency may also deter some entities from accepting federal funds if they are unwilling to disclose their subaward activities.
On the other hand, the increased transparency could lead to better oversight of federal spending and potentially reduce the risk of funds being used for unintended or harmful purposes. It could also inform policy decisions related to international relations and national security.
It is important to note that the effectiveness of the act will depend on the clarity and enforceability of the guidance issued by the Director, as well as the willingness of agencies and recipients to comply with the new reporting requirements.
Potential Benefits
- Increased transparency in federal spending, allowing taxpayers and policymakers to see where their money is going.
- Enhanced oversight of funds allocated to foreign entities of concern, potentially reducing the risk of misuse or abuse.
- Improved data for informed decision-making regarding international relations and national security.
- Greater accountability for prime award recipients in managing subawards.
- Potential for better alignment of federal spending with national priorities.
Most Benefited Areas:
Potential Disadvantages
- Increased administrative burden and compliance costs for prime award recipients and subrecipients.
- Potential for delays in the distribution of federal funds due to increased reporting requirements.
- Risk of over-reporting or inaccurate data if guidance is not clear and consistent.
- Possible chilling effect on legitimate international collaborations if entities are hesitant to accept funds due to reporting requirements.
- Potential for increased scrutiny and politicization of subawards, even when they are for legitimate purposes.
Constitutional Alignment
The TRACKS Act appears to align with the US Constitution, particularly Article I, Section 9, Clause 7, which states that 'No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.' The Act seeks to provide a more detailed account of how appropriated funds are spent, particularly concerning foreign entities.
Furthermore, the Act does not appear to infringe upon any individual liberties or rights protected by the Bill of Rights. It primarily focuses on transparency and accountability in government spending, which falls within the purview of Congress's legislative powers.
However, the implementation of the Act must be carefully managed to ensure that it does not unduly burden individuals or organizations and that it respects due process and equal protection under the law.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).