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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.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_438
Sponsor: Rep. Stewart, Chris [R-UT-2]
Process start date: 2023-01-20
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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

True Cost Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_438.

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 2023-01-20.

What are the main provisions?

Key points include:

  • 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.
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. Stewart, Chris [R-UT-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on the Budget.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Economy Public Investments