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Pentagon Audit: Budget Cuts for Financial Transparency Failure

This act aims to increase financial transparency within the Department of Defense. If the Pentagon fails to achieve a clean audit opinion, its budget will be reduced, with the saved funds directed towards deficit reduction. This encourages better management of taxpayer money.
Key points
If the Department of Defense fails its financial audit, its budget will be cut by 0.5% or 1% in subsequent years.
Reduced funds will be used for national debt reduction, potentially benefiting all citizens.
Cuts will not apply to military personnel, reservists, National Guard, or military health programs.
The President can waive cuts if it would negatively affect national security or troops in combat zones.
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Additional Information
Print number: 117_HR_4272
Sponsor: Rep. Lee, Barbara [D-CA-13]
Process start date: 2021-06-30