>> i think that the treasury, o & b, are off to a good start. he task force is set up by hhs to look at the award data and dod to look at contract data and come up with common data elements. so they are laying the initial framework. they have a long way to go before they are going to have the standards in place. we will be evaluating. we are tracking it very closely. but i'm encouraged that they are getting organized across the government and they used things that are already in plis. which will help implement. >> cop gresman that's our goal. when we looked at some of the aggressive dates, we put in place not just the governance and planning process but we put together the working team between hhs and and dod to start working on what we believe is critical -- >> so what are major threats to not achieving that goal. is it hardware/software, training, what's the major threat to not achieving that goal. >> for this particular goal we have the right resources and it's you know, just keeping the focus and you know folks that we have identified from bo

required by 2017 to begin reporting information using common data standards developed by o & b and the treasury. o& b and the treasury are to report the information in a searchable and downloadable format. once implemented was these will improve oversight and accountability. congress and the public will have an unprecedented amount of transparency into agency spending. agencies will also be able to better use their own data to identify trends and make smarter funding decisions. comptroller sent this testimony before this committee earlier this year that the data act is one of the single biggest things congress could do to address wasteful spending. i agree with this assessment and congratulate all of our stake holders for working together to get this legislation passed. our work did not end with the enactment of the data act, however. it is critical for congress to stay engaged with regular bipartisan oversight just like this hearing. congress must also ensure that agencies have the resources they need carry out the requirements of the data act. as many of you know i frequently say we need make th

the team. and to bring 20 years plus of treasury is o the obviously valuable. i hope he gets a fair hearing. n, it true that -- i the view that at the treasury now come you don't have that experience of financial markets. there is a lack of understanding of financial the treasury right now. high-level expertise and relationshipswith people who buy our debt -- and management of that debt -- that he would fill that spot where there is a hole. >> i would not describe it as a hole. i think it is a very experienced team, and they have been through a lot. they can handle any situation that might arise. having somewhat of antonio's and talent and commitment would be a great addition to any team. >> on the dodd frank front, i a twitter question -- when they cut some other provision, whether also be a cost of business -- will that also be a cost of business? this agreement is jjust the a series what will be of changes to the law that icial to wall street is, potentially, damaging to the long-term safety of the system. always seeing the first chink in the armor? >> no, no. that will not be the case. th