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True Cost Act: Taxpayer Share of Deficit and Public Debt

This act aims to increase transparency in public finances. It requires the President to provide annual estimates to Congress of the cost of the budget deficit and public debt, calculated per taxpayer. This will help citizens better understand how budget decisions impact their personal finances and future tax burdens.
Key points
The government must disclose the cost of the budget deficit per individual taxpayer.
The government must disclose the cost of the public debt per individual taxpayer.
These figures will be included in the annual budget submission, enhancing public awareness of national finances.
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Status:
Expired
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Additional Information
Print number: 118_HR_6889
Sponsor: Rep. Maloy, Celeste [R-UT-2]
Process start date: 2023-12-22
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

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_6889.

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 2023-12-22.

What are the main provisions?

Key points include:

  • The government must disclose the cost of the budget deficit per individual taxpayer.
  • The government must disclose the cost of the public debt per individual taxpayer.
  • These figures will be included in the annual budget submission, enhancing public awareness of national finances.
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. Maloy, Celeste [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.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Economy