Obama signs bill targeting government waste

Full Story at CNN.com

Washington (CNN) — President Barack Obama turned his attention to the ongoing fight against government waste Thursday, signing a bill requiring federal agencies to spend at least $1 million annually on audits targeting improper payments and fraud.

Among other things, the Improper Payments Elimination and Recovery Act provides new financial incentives for auditors to track down government waste and requires the administration to report to Congress each fiscal year on steps taken to cut down on inappropriate expenditures.

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