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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.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_7026
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2026-01-13
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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 119_HR_7026.

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 2026-01-13.

What are the main provisions?

Key points include:

  • 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.
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. Barr, Andy [R-KY-6].

What is the latest detailed status?

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

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-24.

CATEGORIES

Economy