S.1434 - Tracking Receipts to Adversarial Countries for Knowledge of Spending Act; TRACKS Act (119th Congress)
Summary
S.1434, the TRACKS Act, aims to increase transparency in federal spending by tracking taxpayer dollars sent to adversarial countries and foreign entities of concern. It amends the Federal Funding Accountability and Transparency Act of 2006 to require reporting of 'covered subawards' to entities located in or considered foreign entities of concern, as defined in the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021. The bill mandates that recipients of these subawards disclose data in a manner consistent with existing subaward reporting requirements.
Furthermore, it directs the Director to issue guidance within 90 days of enactment to ensure consistency in compliance across agencies, prime award recipients, and covered subaward recipients. This guidance would establish standards for disclosed data related to these foreign subawards. The bill was introduced in the Senate and referred to the Committee on Homeland Security and Governmental Affairs.
Expected Effects
The TRACKS Act will likely increase scrutiny of federal funds flowing to foreign entities, particularly those considered adversarial. This increased transparency could lead to better oversight and potentially reduce the risk of funds being used against U.S. interests. It will also place additional reporting burdens on prime award recipients and subrecipients.
Potential Benefits
- Enhanced transparency in federal spending, allowing taxpayers and policymakers to see where their money is going.
- Improved oversight of funds allocated to foreign entities, potentially reducing waste, fraud, and abuse.
- Increased accountability for prime award recipients and subrecipients, ensuring compliance with reporting requirements.
- Better informed decision-making by Congress and federal agencies regarding funding allocations.
- Potential reduction in the risk of U.S. taxpayer dollars inadvertently supporting activities detrimental to national security.
Most Benefited Areas:
Potential Disadvantages
- Increased administrative burden and compliance costs for prime award recipients and subrecipients.
- Potential delays in the disbursement of federal funds due to increased reporting requirements.
- Risk of over-reporting or inaccurate reporting due to the complexity of defining and tracking 'covered subawards'.
- Possible chilling effect on legitimate collaborations with foreign entities due to increased scrutiny.
- Potential for political misuse of the reported data to target specific countries or entities.
Constitutional Alignment
The TRACKS Act aligns with the Constitution's emphasis on transparency and accountability in government spending. Article I, Section 9, Clause 7 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 TRACKS Act seeks to provide a more detailed account of expenditures, particularly those involving foreign entities, thus supporting the principle of transparency.
However, the Act's potential impact on individual liberties and due process should be considered. While the Act itself doesn't directly infringe on these rights, the increased scrutiny and potential for misuse of the reported data could raise concerns. The Act's focus on national security aligns with the federal government's responsibility to provide for the common defense, as outlined in the Preamble.
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).