H.R. 943 · 111th Congress
Truth in Accounting Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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BachmannSponsor22 cosponsors · 1 D, 21 R
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Brady
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Burton
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Broun
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Cooper
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Cole
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Campbell
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Franks
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Fortenberry
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Foxx
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Hoekstra
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Johnson
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Kingston
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Kirk
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Lamborn
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Latta
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Neugebauer
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Posey
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Ryan
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Schmidt
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Scalise
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Price
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Forbes20 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Truth in Accounting Act of 2009 - Requires the Secretary of the Treasury to include in the audited financial statement of executive branch accounts of the previous year a calculation of the net present value of the overall fiscal exposures of the U.S. government.
What it does: CRS summary · Introduced in House · Feb 10, 2009
Truth in Accounting Act of 2009 - Requires the Secretary of the Treasury to include in the audited financial statement of executive branch accounts of the previous year a calculation of the net present value of the overall fiscal exposures of the U.S. government.
Requires such financial statement to include a program-by-program calculation of: (1) the generational imbalance; (2) the fiscal imbalance; and (3) the total amount of the fiscal imbalance plus the public debt.
Instructs the President, in preparing the federal budget, to take this financial statement into consideration, including the effect of the overall budget upon: (1) the generational imbalance calculation and the fiscal imbalance calculation; and (2) the net present value of the overall fiscal exposures of the federal government.
Directs the Secretary to testify each year before Congress on the financial statement for the preceding fiscal year.
Directs the Comptroller General to: (1) assess the financial condition of the U.S. government in an annual report to Congress; and (2) testify before Congress on that condition, upon request.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Truth in Accounting Act of 2009
Latest action (May 4, 2009): Referred to the Subcommittee on Government Management, Organization, and Procurement.
Policy area: Economics and Public Finance · Origin: House · Introduced: Feb 10, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.