Mandatory Annual Public Review of Federal Government Financial Health.
This Act mandates an annual, public joint hearing where the Comptroller General (GAO) must present an objective analysis of the audited federal government financial statements. Citizens gain greater transparency into the nation's true financial condition, including deficits, surpluses, and long-term fiscal sustainability projections, enhancing executive branch accountability. The hearing is open to the public and media.
Key points
Requires the Comptroller General (GAO) to publicly present an audit review of the federal government's finances, including long-term sustainability projections.
The hearing must occur within 45 business days of the financial statement submission and must be open to the public and media coverage.
All members of Congress are permitted to participate in the joint hearing, regardless of their membership on the Budget Committees.
Status:
Introduced
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