WASHINGTON (April 28, 2014) – The Center for Data Innovation, an affiliated research center of the Information Technology and Innovation Foundation, commends the U.S. House of Representatives for passing the Digital Accountability and Transparency Act (DATA Act), which will vastly improve how federal financial data is tracked and published.
The current state of federal financial reporting is needlessly complicated, prone to human error, and unsuitable for large-scale analysis. The DATA Act will give the public better access to federal spending information; enable government oversight bodies to conduct computer-aided data analysis to identify fraud, waste, and abuse; cut grantee costs by enabling automated reporting and spur the development of new businesses that will use the data to create new products and services.
“With this legislation, big data is finally coming of age in the federal government,” says Daniel Castro, Director of the Center for Data Innovation. “The DATA Act promises to usher in a new era of data-driven transparency, accountability, and innovation in federal financial information. This is a big win for taxpayers, innovators and journalists.”
The DATA Act passed the U.S. Senate earlier this month and will now go to Present Barack Obama for final approval.
The Information Technology and Innovation Foundation (ITIF) is a non-profit, non-partisan think tank whose mission is to formulate and promote public policies to advance technological innovation and productivity internationally, in Washington, and in the states. Recognizing the vital role of technology in ensuring prosperity, ITIF focuses on innovation, productivity, and digital economy issues. Learn more at www.itif.org.