What is the main objective of the Data Transparency and Accountability Act (DATA Act) of 2014?

The main objective of the Data Transparency and Accountability Act (DATA Act) of 2014 is to improve accessibility of federal spending data. This legislation aims to enhance transparency in government financial reporting by requiring federal agencies to publish their financial data in a standardized format. This move is intended to make it easier for citizens, researchers, and policymakers to access and analyze both spending and financial information related to federal government programs and activities.

By improving accessibility, the DATA Act facilitates better oversight, accountability, and public engagement regarding how taxpayer dollars are utilized. It promotes the idea that the public has the right to know how government money is spent, ultimately aiming to create a more transparent and accountable government. This aligns with the broader goals of enhancing trust in government operations and decision-making processes.

In contrast, reducing federal spending, ensuring compliance with financial regulations, and increasing funding for governmental programs do not directly reflect the primary intent of the DATA Act, which is focused on data transparency and accessibility rather than these financial management aspects.