September 26, 2006 1:53 PM PDT
Under a bill President Bush signed into law on Tuesday, Americans will soon be able to easily find out where about $1 trillion in government spending goes.
The law, called the Federal Funding Accountability and Transparecy Act of 2006, calls for the creation of a Web site this year that lists federal grants and contracts greater than $25,000, except for ones that are classified for national security reasons, according to an Associated Press article.
The Web site will allow people to type in the name of any company, association, state or locality and find out what government grants and contracts they have received.
“The information is already available, but the Web site would make it easier for those who aren’t experts on the process to see how taxpayer dollars are being spent,” the article said.
“By allowing Americans to Google their tax dollars, this new law will help taxpayers demand greater fiscal discipline,” Bush said.
Posted by Elinor Mills