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Increased Transparency: Annual Public Review of Federal Financial Health.

This law mandates an annual, public joint meeting of Congress where the Comptroller General presents an objective analysis of the federal government's financial health, including debt, deficits, and long-term sustainability projections. This ensures citizens receive direct, nonpartisan information about how public funds are managed and the nation's fiscal outlook. These findings must then inform the Congressional budget process.
Key points
Congress must hold an annual public meeting dedicated solely to reviewing the federal government's audited financial statement, open to the public and media.
The independent Comptroller General (GAO) must provide an objective analysis of deficits, surpluses, and long-term fiscal stability.
The findings from this presentation must inform and be included in the Congressional budget resolution, increasing accountability for spending.
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Additional Information
Print number: 118_S_4665
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2024-07-10
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Fiscal State of the Nation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4665.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-07-10.

What are the main provisions?

Key points include:

  • Congress must hold an annual public meeting dedicated solely to reviewing the federal government's audited financial statement, open to the public and media.
  • The independent Comptroller General (GAO) must provide an objective analysis of deficits, surpluses, and long-term fiscal stability.
  • The findings from this presentation must inform and be included in the Congressional budget resolution, increasing accountability for spending.
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 Sen. Braun, Mike [R-IN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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