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HR 2917119th CongressIntroduced
TRACKS Act
Introduced: Oct 29, 2025
Defense & National SecurityEconomy & TaxesFinancial Services
Standard Summary
Comprehensive overview in 1-2 paragraphs
The TRACKS Act amends federal transparency laws to mandate reporting of subawards to adversarial countries and foreign entities, enhancing oversight of taxpayer funds and aligning spending accountability with national security concerns.
Key Points
- 1Defines 'subaward' to include multi-tiered financial transactions like grants and contracts.
- 2Requires disclosure of covered subawards to entities in adversarial nations or designated foreign entities of concern.
- 3Mandates the Director to issue compliance guidance within 90 days of enactment, standardizing data reporting.
Impact Areas
Federal agencies administering awardsPass-through entities and subrecipientsAdversarial countries and foreign entities of concernU.S. taxpayers seeking fiscal transparency
Generated by gpt-4o on Nov 6, 2025