Update: The bill passes and the Senate agrees, next stop President Bush’s desk.

The House version of the Coburn-Obama online contracts and grants database is set to pass today. Sen. Tom Coburn’s office just sent out an announcement that Coburn, Sen. Barack Obama, Rep. Roy Blunt, Rep. Tom Davis, and OMB Deputy Director for Management Clay Johnson will "pledge immediate action to implement the grants and contracts database included in the Federal Funding Accountability and Transparency Act." This news conference will be held at 2 p.m. tomorrow in room HC-7 of the Capitol. Kudos to all groups and bloggers that have supported this bill and continue to push for greater transparency in Congress.