HR 943 · 111th Congress 2009–2011, ended

Truth in Accounting Act of 2009

Introduced Feb 10, 2009 Originated House Sponsor Michele Bachmann R-MN

Fact sheet

Latest action · May 4, 2009 Referred to the Subcommittee on Government Management, Organization, and Procurement.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedFeb 10, 2009
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Truth in Accounting Act of 2009 - Requires the Secretary of the Treasury to include in the audited financial statement of executive branch accounts of the previous year a calculation of the net present value of the overall fiscal exposures of the U.S. government.

Requires such financial statement to include a program-by-program calculation of: (1) the generational imbalance; (2) the fiscal imbalance; and (3) the total amount of the fiscal imbalance plus the public debt.

Instructs the President, in preparing the federal budget, to take this financial statement into consideration, including the effect of the overall budget upon: (1) the generational imbalance calculation and the fiscal imbalance calculation; and (2) the net present value of the overall fiscal exposures of the federal government.

Directs the Secretary to testify each year before Congress on the financial statement for the preceding fiscal year.

Directs the Comptroller General to: (1) assess the financial condition of the U.S. government in an annual report to Congress; and (2) testify before Congress on that condition, upon request.

Cosponsors 22

Members who signed on, in the order they did. Signatures ran from Feb 10, 2009 to Apr 13, 2010, with 20 there on the day it was introduced.

SeatCosponsorSigned on
R-FLBill PoseyOriginalFeb 10, 2009
R-INDan BurtonOriginalFeb 10, 2009
R-CODoug LambornOriginalFeb 10, 2009
R-GAJack KingstonOriginalFeb 10, 2009
R-OHJean SchmidtOriginalFeb 10, 2009
R-NEJeff FortenberryOriginalFeb 10, 2009
D-TNJim CooperOriginalFeb 10, 2009
R-CAJohn CampbellOriginalFeb 10, 2009
R-TXKevin BradyOriginalFeb 10, 2009
R-ILMark KirkOriginalFeb 10, 2009
R-GAPaul C. BrounOriginalFeb 10, 2009
R-WIPaul D. RyanOriginalFeb 10, 2009
R-MIPeter HoekstraOriginalFeb 10, 2009
R-TXRandy NeugebauerOriginalFeb 10, 2009
R-OHRobert E. LattaOriginalFeb 10, 2009
Show all 22 cosponsors

Actions 5

Everything that happened, newest first.

  1. May 4, 2009Referred to the Subcommittee on Government Management, Organization, and Procurement.
  2. Feb 10, 2009Introduced in House
  3. Feb 10, 2009Referred to House Budget
  4. Feb 10, 2009Referred to House Oversight and Government Reform
  5. Feb 10, 2009Referred to the Committee on Oversight and Government Reform, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Subjects

Assigned by the Library of Congress. Policy area: Economics and Public Finance.

Text 1

Each version as it was printed, newest first.

  1. Feb 10, 2009Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.