Bush Signs Law Sponsored By Senator Tom Coburn

Tuesday, September 26th 2006, 10:48 am
By: News On 6

Americans can know exactly how their taxpayer dollars are being spent. It's all part of a bill President Bush signed into law Tuesday that was sponsored by Oklahoma Senator Tom Coburn and Illinois Senator Barack Obama.

It's called the Federal Funding Accountability and Transparency Act. The law will create a website anyone can access, that lists all government contracts worth $25,000 or more.

The President says the government spends a lot of time collecting your money and the government should spend the same amount of time telling you how it's spent.

The website will not be up and running until January 1, 2008.