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Improved Government Financial Management: Transparency and Spending Efficiency

This act aims to streamline financial management within government agencies, potentially leading to more efficient use of taxpayer money. It introduces new responsibilities for financial officers to ensure better budget control and greater transparency in spending reports. As a result, citizens can expect their money to be used more responsibly and visibly.
Key points
Increased Transparency: Government agencies will need to publish more financial information, making it easier for citizens to track how their tax money is spent.
Better Spending Control: Financial officers will have new duties to better plan and control budgets, which may reduce waste.
Performance Assessment: New metrics will be introduced to evaluate how well agencies manage their finances, helping identify areas for improvement.
Swift Action for Vacancies: In case of a vacancy in the Chief Financial Officer position, the Deputy Chief Financial Officer can immediately assume duties, ensuring continuity of management.
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Expired
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Additional Information
Print number: 117_HR_7164
Sponsor: Rep. Maloney, Carolyn B. [D-NY-12]
Process start date: 2022-03-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CFO Vision Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7164.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-03-18.

What are the main provisions?

Key points include:

  • Increased Transparency: Government agencies will need to publish more financial information, making it easier for citizens to track how their tax money is spent.
  • Better Spending Control: Financial officers will have new duties to better plan and control budgets, which may reduce waste.
  • Performance Assessment: New metrics will be introduced to evaluate how well agencies manage their finances, helping identify areas for improvement.
  • Swift Action for Vacancies: In case of a vacancy in the Chief Financial Officer position, the Deputy Chief Financial Officer can immediately assume duties, ensuring continuity of management.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Maloney, Carolyn B. [D-NY-12].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Oversight and Reform.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Public Investments Economy