Sen. Ashley Moody (R-Fla.) celebrated the U.S. Senate’s passage of the Stop Secret Spending Act, a bipartisan bill aimed at cracking down on undisclosed federal spending.
The bill broadens federal agencies’ expenditure disclosure requirements by mandating that the government additionally disclose spending hidden from public view under the “Other Transaction Agreement” (OTA) category.
“Washington has no business hiding how it spends your tax dollars. The Stop Secret Spending Act brings much-needed transparency to a system that has allowed billions of dollars in spending to fly under the radar,” Sen. Moody, co-sponsor of the bill, affirmed.
The Bill's Crackdown on OTAs
According to the bill’s summary, OTAs are contractual instruments that are exempt from many federal procurement laws and regulations.
The bill will ensure that OTAs are reported on the USAspending.gov website just as standard procurement contracts, grants, and cooperative agreements, “so Americans can view who is receiving their tax dollars and for what purpose.”
To do so, the bill orders the Department of the Treasury to transmit all data relating to OTAs to the website. The agency must also ensure that a centralized view of the data is posted on the website.
The department is also instructed to issue an annual report including the “total amount of federal spending on federal awards for which data has not been posted on the website” and “the reason why such spending data was not posted” on the website.
Additionally, the Office of Inspector General of specified federal agencies must routinely submit a report assessing the agency’s spending data and use of data standards for 10 years after the bill’s enactment. The report must be submitted to Congress and made publicly available.
The Public "Deserves To Know How Their Money Is Spent"
The legislation’s prevalence arises after it was reported that more than $18 billion in government spending was hidden from the public by utilizing the OTA category during Fiscal Year 2024.
“Our bosses, the American people, deserve to know how their money is being spent. This legislation is a great step toward restoring accountability, and I look forward to seeing it reach President Trump’s desk,” Sen. Moody asserted.
