Fiscal State of the Union Act

I 116TH CONGRESS 2D SESSION H. R. 7086 To require an annual fiscal state of the union, and for other purposes. IN THE HOUSE OF REPRESENTATIVES JUNE 4, 2020 Mr. ARRINGTON introduced the following bill; which was referred 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 section 331(e) of title 31, United States Code, on a date 11 VerDate Sep 11 2014 03:17 Jul 07, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H7086.IH H7086 SSpencer on DSK126QN23PROD with BILLS 2 •HR 7086 IH agreed upon by Congress and the Comptroller General of 1 the United States, the two Houses of Congress shall as- 2 semble in the Hall of the House of Representatives to re- 3 ceive a presentation from the Vice President and the lead- 4 er of the House of Representatives of the opposite party 5 of the Vice President reviewing the findings of the audit 6 required under paragraph (2) of such section and pro- 7 viding, with respect to the information included by the 8 Secretary in the report accompanying such audited finan- 9 cial statement, an analysis of the financial position and 10 condition of the Federal Government, including financial 11 measures (such as the net operating cost, income, budget 12 deficits, or budget surpluses) and sustainability measures 13 (such as the long-term fiscal projection or social insurance 14 projection) described in such report. 15 (b) EFFECTIVE DATE.—The requirement under sub- 16 section (a) shall apply with respect to any audited finan- 17 cial statement submitted on or after the date of the enact- 18 ment of this Act. 19 Æ VerDate Sep 11 2014 03:17 Jul 07, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H7086.IH H7086 SSpencer on DSK126QN23PROD with BILLS