Congressmen Moore, Barr, Panetta, and Peters Introduce Legislation to Enhance Transparency into Federal Spending
WASHINGTON— Congressman Blake Moore (R-Utah) introduced the Fiscal State of the Nation Act, bipartisan legislation requiring the Comptroller General to annually deliver a nonpartisan, objective, and public analysis of the nation’s finances to a Joint Meeting of Congress.
The Fiscal State of the Nation Act will enhance public awareness of the nation’s debt and deficit crisis and highlight bipartisan opportunities to rein in wasteful federal spending. The legislation would also require that a statement of findings be included in the concurrent resolution on the budget each year.
Congressman Moore was joined by Congressmen Scott Peters (D-Calif.), Andy Barr (R-Ky.), and Jimmy Panetta (D-Calif.) in introducing the legislation.
“As the stewards of taxpayer dollars, this commonsense legislation will hold Members of Congress accountable to the American people for how they spend federal funds,” said Congressman Moore. “At a time when our national debt is the highest it has ever been, the Fiscal State of the Nation Act will communicate the scope of the budgetary challenges we face and the need for bipartisan reforms that reduce deficits and balance America’s checkbook.”
“It is clear as ever that we need to deal with our national debt in a responsible and nonpartisan manner,” said Congressman Peters. “This legislation will cut through the noise of biased information Members of Congress receive every day and instead give us a sober and thorough analysis of how current and future policies influence our fiscal health. I look forward to marking up this legislation, a version of my Fiscal State of the Nation Resolution, in the Budget Committee and sending it to the House floor.”
"Understanding one’s assets, expenses, and revenues is something American people do on a daily basis. Yet, year after year, Congress struggles with this simple concept, instead opting for convoluted reports on our own fiscal state," said Congressman Barr. "This lack of straightforward information leaves lawmakers unprepared to pass legislation that addresses the real needs of the American people, often leading to an ineffective use of American's hard-earned taxpayer dollars. That's why I'm proud to lead this bipartisan effort with Reps. Moore, Peters, and Panetta, to bring clarity and efficiency to our budget process."
“As our nation’s debt and deficits get to a point where they threaten our financial future, Congress needs to step up when it comes to our duties and oversight of our nation's fiscal health,” said Congressman Panetta. “The bipartisan, bicameral Fiscal State of the Nation Act would help Congress fulfill its responsibilities by providing us with detailed, nonpartisan information and analysis of America’s finances. This legislation would not only allow us to be better informed, it would help us govern when it comes to making decisions about our nation’s financial stability.”
The text of the legislation can be found here.