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Obama Touts New Way to Track Federal Cash

Illinois Senator Barack Obama’s office is calling a new law the highlight of his first two years on Capitol Hill.

Obama was a co-sponsor of the legislation, which was signed into law Tuesday. It will create a new federal website allowing people to search federal grants and contracts by who receives them.

At a bill signing ceremony in Washington, President Bush thanked Obama and other lawmakers.

“This has been a good effort, by concerned members of the House and Senate,” Mr. Bush says. “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.’”

Obama arrived at the White House ceremony with his unusual ally on the legislation, conservative Republican Senator Tom Coburn of Oklahoma.

The website is set to go up by the beginning of 2008.

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