Kinzinger Introduces Bipartisan ‘Truth in Spending Act’
Today, Congressman Adam Kinzinger (R-IL) introduced H.R. 4713, the “Truth in Spending Act” to reassert Congressional control over the federal budget process and increase accountability with respect to direct spending legislation.
Washington, DC – Yesterday, Congressman Adam Kinzinger (R-IL) introduced H.R. 4713, the “Truth in Spending Act” to reassert Congressional control over the federal budget process and increase accountability with respect to direct spending legislation. Upon introducing this bill, Congressman Kinzinger released the following statement:
“Today, our federal debt is larger than our annual gross domestic product (GDP) – we are spending more than we are bringing in as a country and our economy is suffering as a result. If we continue to ignore our rising debt, we will move closer and closer to a fiscal crisis, and an even more depleted economy for future generations.
“This legislation, the Truth in Spending Act, places more Congressional control and oversight over federal spending that is essentially on autopilot. Congress holds the power of the purse, and it’s about time we get serious about facing our budget challenges head-on. We cannot put our runaway spending on the backs of our children and grandchildren. I thank my colleagues for cosponsoring this legislation, and I look forward to getting it passed in the new year.”
NOTE: The bill, H.R. 4713, the ‘Truth in Spending Act,’ was introduced by Congressman Adam Kinzinger (R-IL) with bipartisan support from his original cosponsors listed below. To view the text of the bill, please see the attached PDF.