True Cost Act: Public Debt Transparency for Taxpayers
This act aims to increase transparency in public finances. The President will be required to provide an estimated cost of the deficit and public debt per taxpayer. This will help citizens better understand how budget decisions impact their personal finances.
Key points
The government must show how much public debt each taxpayer is responsible for.
In case of a budget deficit, citizens will know their share of that deficit.
This information will be part of the annual budget submitted to Congress.
Status:
Expired
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