It also would require each agency to post performance data online every quarter, opposed to every year.
The first-year goal of the bill is to reduce the number of little-used or outdated reports by 10 percent.
“With concerns growing over the mounting federal deficit and national debt, the American people deserve to know that every dollar they send to Washington is being used to its utmost potential,” Carper said in a statement. “This legislation will go a long way in improving the performance and efficiency of the federal government and bringing the results our nation demands. I will work with my colleagues in the House to see to the bill’s passage.”