Bill to create federal spending database to become law

The Office of Management and Budget has until Jan. 1, 2008, to create a database of federal spending on procurement, grants, loans and other expenditures.

The House last week adopted an amendment to mirror the Senate's version of the database bill, which is now expected to head to President Bush's desk.

The bill, S 2590, requires OMB to develop a public, searchable database with information on federal contracts, subcontracts, grants, subgrants, loans and other financial assistance.

OMB has supported the bill, and director Rob Portman applauded the House's passage of it.

The Senate passed the bill, sponsored by Sens. Tom Coburn (R-Okla.), John McCain (R-Ariz.) and Barack Obama (D-Ill.), earlier this month.

From there, the bill moved to the House, which earlier this year approved similar legislation to establish a database for federal grant awards.

Co-sponsors of the House bill, majority leader Roy Blunt (R-Mo.) and Government Reform Committee chairman Tom Davis (R-Va.), met with Coburn and others and agreed to amend the House version to match the Senate's.

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