The Digital Accountability and Transparency Act of 2014 (DATA Act) amended the Federal Funding Accountability and Transparency Act of 2006 by disclosing direct federal agency expenditures and linking federal contract, loan, and grant spending information to federal programs to enable taxpayers and policy makers to track federal spending more effectively. The DATA Act requires the Treasury Department and the White House Office of Management and Budget (OMB) to establish government-wide data standards for financial data — including spending data — that federal agencies report to Treasury, OMB, and the GSA. It also required Treasury and OMB to improve the quality of data submitted to USASpending.gov by holding federal agencies accountable for the completeness and accuracy of the data submitted.
