Fiscal State of the Union Act

I 117TH CONGRESS 1ST SESSION H. R. 1322 To require an annual fiscal state of the union, and for other purposes. IN THE HOUSE OF REPRESENTATIVES FEBRUARY 25, 2021 Mr. ARRINGTON (for himself, Mr. HERN, Mr. CRENSHAW, Mr. BANKS, Mr. PERRY, and Mr. JACKSON) introduced the following bill; which was re- ferred to the Committee on House Administration A BILL To require an annual fiscal state of the union, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Fiscal State of the 4 Union Act’’. 5 SEC. 2. FISCAL STATE OF THE UNION. 6 (a) IN GENERAL.—Not later than 45 days (excluding 7 Saturdays, Sundays, and holidays) after the date on which 8 the Secretary of the Treasury submits to Congress the au- 9 dited financial statement required under paragraph (1) of 10 VerDate Sep 11 2014 03:53 Mar 21, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H1322.IH H1322 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 1322 IH section 331(e) of title 31, United States Code, on a date 1 agreed upon by Congress and the Comptroller General of 2 the United States, the two Houses of Congress shall as- 3 semble in the Hall of the House of Representatives to re- 4 ceive a presentation from the Vice President and the lead- 5 er of the House of Representatives of the opposite party 6 of the Vice President reviewing the findings of the audit 7 required under paragraph (2) of such section and pro- 8 viding, with respect to the information included by the 9 Secretary in the report accompanying such audited finan- 10 cial statement, an analysis of the financial position and 11 condition of the Federal Government, including financial 12 measures (such as the net operating cost, income, budget 13 deficits, or budget surpluses) and sustainability measures 14 (such as the long-term fiscal projection or social insurance 15 projection) described in such report. 16 (b) EFFECTIVE DATE.—The requirement under sub- 17 section (a) shall apply with respect to any audited finan- 18 cial statement submitted on or after the date of the enact- 19 ment of this Act. 20 Æ VerDate Sep 11 2014 03:53 Mar 21, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H1322.IH H1322 kjohnson on DSK79L0C42PROD with BILLS