[Weekly Compilation of Presidential Documents Volume 42, Number 39 (Monday, October 2, 2006)]
[Pages 1666-1668]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks on Signing the Federal Funding Accountability and Transparency 
Act of 2006

September 26, 2006

    The President. Thank you, and sit down. Please be seated--except for 
you all. [Laughter] Welcome. Every April, Americans sit down and fill 
out their tax returns, and they find out how much of their hard-earned 
money is coming here to Washington. Once the tax dollars arrive here, 
most Americans have little idea of where the money goes, and today our 
Government is taking steps to change that. We believed that the more we 
inform our American citizens, the better our Government will be.
    And so in a few moments, I'll sign the Federal Funding 
Accountability and Transparency Act of 2006. This bill is going to 
create a web site that will list the Federal Government's grants and 
contracts. It's going to be a web site that the average citizen can 
access and use. It will allow Americans to log onto the Internet just to 
see how your money is being spent. This bill will increase 
accountability and reduce incentives for wasteful spending. I am proud 
to sign it into law, and I am proud to be with members of both political 
parties who worked hard to get this bill to my desk.
    This has been a good effort by concerned Members of the House and 
the Senate to say to the American people, ``We want to earn your trust; 
when we spend your money, we want you to be able to watch us.''
    I want to thank Rob Portman, who is in my Cabinet--he's the Director 
of the OMB--and my good friend Clay Johnson, is the Deputy Director, for 
insisting on accountability when it comes to taxpayers' money. I know 
this has been a particular project--a fond project of Clay, and I'm glad 
that Members of Congress got it here.
    I want to thank Susan Collins, who is the chairman of the Homeland 
Security and Governmental Affairs Committee. I want to thank the bill 
sponsors, Tom Coburn from Oklahoma, Tom Carper from Delaware, and Barack 
Obama from Illinois.
    I appreciate Roy Blunt, who is the majority whip. He's a sponsor of 
the House companion bill. I also want to thank Tom Davis, who is the 
chairman of the Government Reform Committee, as well as cosponsors of 
the bill, Jeb Hensarling and Randy Kuhl.
    You know, we spend a lot of time and a lot of effort collecting your 
money, and we should show the same amount of effort in reporting how we 
spend it. Every year, the Federal Government issues more than $400 
billion in grants and more than $300 billion in contracts to 
corporations, associations, and State and local governments. Taxpayers 
have

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a right to know where that money is going, and you have a right to know 
whether or not you're getting value for your money.
    Under Clay's leadership, we launched a new system for measuring how 
Federal programs are doing. In other words, Federal programs say, ``We 
want to achieve this result,'' we're trying to figure out whether or not 
they're meeting the results. In other words, it makes sense for all of 
us in Washington, DC, to say, ``We're a results-oriented Government.'' I 
know Henry Waxman believes that. [Laughter] Thank you for coming. Proud 
you're here, sir. I was just praising the bipartisan support that this 
bill has received, and you're confirmation of that bipartisan support. 
[Laughter] Thank you; appreciate you coming.
    And so we've got--we're measuring, and we put a web site out called 
expectmore.gov. In other words, people can go onto that web site and 
determine whether or not the results are being met for programs.
    And now Congress has come forth with an additional sense of 
accountability here in Washington, additional way for taxpayers to 
figure out whether or not we're being wise with your money. And the 
Federal Funding Accountability Act--Accountability and Transparency Act 
will create a new web site that will list Government grants and 
contracts greater than $25,000. We'll list all grants except for those 
above 25,000--except for those that must remain classified for national 
security reasons.
    The web site will allow our citizens to go online, type in the name 
of any company, association, or State or locality, and find out exactly 
what grants and contracts they've been awarded. It will allow citizens 
to call up the name and location of entities receiving Federal funds and 
will provide them with the purpose of the funding, the amount of money 
provided, the agency providing the funding, and other relevant 
information.
    By allowing Americans to Google their tax dollars, this new law will 
help taxpayers demand greater fiscal discipline. In other words, we're 
arming our fellow citizens with information that will enable them to 
demand we do a better job--a better job in the executive branch and 
better job in the legislative branch.
    Information on earmarks will no longer be hidden deep in the pages 
of a Federal budget bill--will be but just a few clicks away. This 
legislation will give the American people a new tool to hold their 
Government accountable for spending decisions. When those decisions are 
made in broad daylight, they will be wiser and they will be more 
restrained. This is a good piece of legislation, and I congratulate the 
Members here.
    Recently the House made an important rule change that will also 
improve transparency in the legislative process. Under the rule change, 
the sponsor of each project will now be disclosed before the bills come 
to a vote. This is a wise change. It will shine the light on earmarks. 
It's going to help the American taxpayers know whether or not they're 
getting their money's worth here in Washington.
    Rule change, along with the bill I'll sign today, are important 
steps, but there's more to be done. This President needs a line-item 
veto. Here's the problem: I get a big bill, an important bill to my 
desk, and in that bill there may be some bad spending items, some kind 
of last minute cram-ins, or items that may not have seen the full light 
of day during the legislative process. I then either have to accept 
those or veto a good bill. And there's a better way forward, at least 
the House thought there was a better way forward in the legislative 
process, and that's the line-item veto.
    Under the proposal, the President can approve spending that is 
necessary; redline spending that is not; and send the wasteful and 
unnecessary spending back to the Congress for an up-or-down vote. I 
think this is an important part of making sure we have accountability 
here in Washington, DC.
    I want to thank the House for passing the bill. I would hope the 
Senate would take it up. We can work together to inspire confidence in 
the appropriations process here in Washington. And it's in the interest 
of both political parties to do so, and it's in the interest of both 
branches of Government to do so.
    Right now, however, I have the honor of signing this new bill. It's 
a bill that empowers the American taxpayer, the American citizen. And we 
believe that the more transparency

[[Page 1668]]

there is in the system, the better the system functions on behalf of the 
American people.
    Again, I thank the Members. It's my honor now to sign the Federal 
Funding Accountability and Transparency Act of 2006.

 [At this point, the President signed the bill.]

    The President. All right, dismissed.

Note: The President spoke at 9:47 a.m. in Room 350 of the Dwight D. 
Eisenhower Executive Office Building. S. 2590, approved September 26, 
was assigned Public Law No. 109-282.