The FACT Act, also known as Bill 119 HR 2277, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to increase transparency and accountability in the federal government by requiring federal agencies to report on their activities and expenditures.
Specifically, the FACT Act mandates that federal agencies must submit annual reports to Congress detailing their spending, performance, and compliance with various laws and regulations. These reports would be made available to the public in order to promote transparency and ensure that taxpayer dollars are being used effectively.
Additionally, the FACT Act includes provisions to strengthen oversight of federal agencies by requiring them to establish internal controls to prevent fraud, waste, and abuse. It also calls for the creation of a centralized database to track federal spending and performance metrics, making it easier for Congress and the public to monitor government activities.
Overall, the FACT Act aims to improve government accountability and transparency by requiring federal agencies to report on their activities and expenditures, establish internal controls to prevent fraud, and create a centralized database to track federal spending. This legislation is currently under consideration in Congress and has the potential to have a significant impact on how the federal government operates.