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Enhanced Transparency and Oversight of Public Funds

This act aims to increase transparency and accountability in the management of taxpayer money. It introduces new financial oversight rules for government agencies, intended to ensure better use of public funds and reduce waste. As a result, citizens can expect their money to be spent more efficiently and with greater control.
Key points
Strengthening the role of Chief Financial Officers in government agencies to better oversee budgets and expenditures.
Introducing new four-year financial management plans for the entire government, with an emphasis on efficiency and savings.
Greater transparency in reporting agency expenditures and financial results, making it easier for citizens to track how their money is spent.
Mandatory annual assessment of the effectiveness of internal financial controls within agencies to prevent errors and misuse.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1558
Sponsor: Rep. Connolly, Gerald E. [D-VA-11]
Process start date: 2025-02-25
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Taxpayer Funds Oversight and Accountability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1558.

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 2025-02-25.

What are the main provisions?

Key points include:

  • Strengthening the role of Chief Financial Officers in government agencies to better oversee budgets and expenditures.
  • Introducing new four-year financial management plans for the entire government, with an emphasis on efficiency and savings.
  • Greater transparency in reporting agency expenditures and financial results, making it easier for citizens to track how their money is spent.
  • Mandatory annual assessment of the effectiveness of internal financial controls within agencies to prevent errors and misuse.
What is the specific legal status?

The current status is Introduced.

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. Connolly, Gerald E. [D-VA-11].

What is the latest detailed status?

The latest detailed status is: ASSUMING FIRST SPONSORSHIP - Mr. Min asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 1558, a bill originally introduced by Representative Connolly, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Public Investments Economy