Fiscal State of the Nation Act

Bill: 118-s-4665
Sponsor: full_name: Sen. Braun, Mike [R-IN]
Introduced: 2024-07-10
Policy area: Congress
Subjects: Accounting and auditing

Budget deficits and national debt

Congressional operations and organization

Congressional oversight

Government information and archives
Latest action: action_date: 2024-07-10
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 4665 IN THE SENATE OF THE UNITED STATES July 10, 2024 Mr. Braun (for himself, Mr. Manchin , Ms. Rosen , Mrs. Blackburn , Mr. Marshall , Mr. Ricketts , and Mr. Scott of Florida ) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs A BILL To amend title 31, United States Code, to provide for a joint meeting of Congress to receive a presentation from the Comptroller General of the United States regarding the audited financial statement of the executive branch, and for other purposes.

1. Short title This Act may be cited as the Fiscal State of the Nation Act . 2. Annual joint meeting of Congress to receive presentation by Comptroller General Section 331 of title 31, United States Code, is amended by adding at the end the following: (f) Annual joint meeting of Congress To receive presentation by Comptroller General (1) In general Not later than 45 days (excluding Saturdays, Sundays, and holidays) after the date on which the Secretary of the Treasury submits to Congress the audited financial statement required under subsection (e)(1), on a date agreed upon by the Speaker of the House of Representatives, the President pro tempore of the Senate, and the Comptroller General of the United States, Congress shall hold a joint meeting (in this subsection referred to as the Joint Meeting ) to receive a presentation from the Comptroller General— (A) reviewing the findings of the audit required under subsection (e)(2); and (B) providing, with respect to the information included by the Secretary in the report accompanying such audited financial statement, an analysis of the financial position and condition of the Federal Government, including financial measures (such as the net operating cost, income, budget deficits, or budget surpluses) and sustainability measures (such as the long-term fiscal projection or social insurance projection) described in such report. (2) Presentation of statement in accordance with GAO strategies and means The Comptroller General of the United States shall ensure that the presentation at the Joint Meeting is made in accordance with the Strategies and Means of the Government Accountability Office, so that the presentation will provide professional, objective, fact-based, nonpartisan, nonideological, fair, and balanced information to the Members attending the Joint Meeting. (3) Open meeting The Joint Meeting shall be open to the public, including to radio, television, and still photography coverage. (4) Effective date The requirement under paragraph (1) shall apply with respect to any audited financial statement submitted on or after the date of enactment of the Fiscal State of the Nation Act. . 3. Inclusion of findings and analysis of Fiscal State of the Nation in concurrent resolution on the budget Section 301(a) of the Congressional Budget and Impoundment Control Act of 1974 ( 2 U.S.C. 632(a) ) is amended, in the matter following paragraph (7), by adding at the end the following: Each concurrent resolution on the budget shall include a statement of findings informed by the most recently conducted presentation under subsection (f) of section 331 of title 31, United States Code, regarding the findings of the audit under subsection (e)(2) of such section and the analysis of the financial position and condition of the Federal Government and any other appropriate information on the fiscal condition of the United States. .