Financial Data Transparency Act Still in Play as NDAA Consideration Starts
On October 11, in a pro forma session on the Senate floor, the Senate Armed Services Committee Chair and Ranking Member kicked off the chamber’s consideration of the National Defense Authorization Act (NDAA). Although the full chamber will not be back in session until mid-November, both sides of the aisle have shown a clear desire to have the legislation ready for consideration. The ultimate goal being that Senators could act quickly to pave the way to a conference committee where differences with the House bill could be resolved before the end of the year. The Financial Data Transparency Act (FDTA) is still expected to be attached to the Senate’s NDAA as initially reported by GFOA. We appreciate all members who have reached out to their Senate offices thus far and calling for the removal of Section 203. In particular because the section raises cost concerns and potential federal overreach into financial reporting for state and local governments. There is still time for GFOA members to engage their Senators; please click HERE for GFOA’s resource page on FDTA that includes analysis and other materials to help with outreach.