WASHINGTON, D.C. — Today, President George W. Bush signed the Federal Funding Accountability and Transparency Act (S. 2590). The bill, which was co-sponsored by U.S. Senator George V. Voinovich (R-OH), will create a search engine and database to track approximately $1 trillion in federal grants, contracts, earmarks and loans. The bipartisan legislation, written by U.S. Senators Tom Coburn (R-OK) and Barack Obama (D-IL), was passed by the House and Senate in early September. Sen. Voinovich’s statement follows:

“I have long believed that public officials should be judged on whether they can work harder and smarter and do more with less. Americans have the right to know how their government spends their money, and they deserve to be represented by true stewards of the taxpayer dollar. This bill becoming law is a vital step toward giving Washington’s fiscal engine a long overdue tune up.”

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