"S. 2852 would direct federal agencies to publish all data they collect in an open format that can be used by any computer. Under the bill, the Office of Management and Budget would establish an inventory of all federal data sets and would direct the General Services Administration to maintain an online interface for all such data. In addition, S. 2852 would rename the Office of Electronic Government as the Office of the Federal Chief Financial Officer. Information from selected agencies suggest that most of the provisions of the bill would codify Executive Order 13642 and other executive branch policies that set the framework for agencies to promote openness and interoperability in information management. That executive order requires agencies to standardize data sets and to make them publicly available. A website (www.data.gov) has been established to share this government information with the general public. CBO [Congressional Budget Office] expects that implementing S. 2852 would have no significant effect on spending because agencies effectively are already working to implement the requirements of the bill. The bill could affect direct spending by agencies not funded though annual appropriations; therefore pay-as-you-go procedures apply. CBO estimates, however, that any net increase in spending by those agencies would be negligible. Enacting S. 2852 would not affect revenues. CBO estimates that enacting S. 2852 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2027."
Congressional Budget Office: http://www.cbo.gov/