Fiscal State of the Nation Resolution
Floor Speech
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Mr. McGOVERN. Madam Speaker, I move to suspend the rules and agree to the concurrent resolution (H. Con. Res. 44) providing for a joint hearing of the Committees on the Budget of the House of Representatives and the Senate to receive a presentation from the Comptroller General of the United States regarding the audited financial statement of the executive branch, as amended.
The Clerk read the title of the concurrent resolution.
The text of the concurrent resolution is as follows: H. Con. Res. 44
Resolved by the House of Representatives (the Senate concurring), SECTION 1. SHORT TITLE.
This resolution may be cited as the ``Fiscal State of the Nation Resolution''. SEC. 2. ANNUAL JOINT HEARING OF BUDGET COMMITTEES TO RECEIVE A PRESENTATION BY THE COMPTROLLER GENERAL.
(a) 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 paragraph (1) of section 331(e) of title 31, United States Code, on a date agreed upon by the chairs of the Committees on the Budget of the House of Representatives and the Senate (hereafter referred to as the ``Budget Committees'') and the Comptroller General of the United States, the Budget Committees shall hold a joint hearing (hereafter referred to as the ``Joint Hearing'') to receive a presentation from the Comptroller General reviewing the findings of the audit required under paragraph (2) of such section and 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.
(b) 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 Hearing 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 Hearing.
(c) Rules Applicable to Joint Hearing.--
(1) In general.--Except as provided in paragraphs (2) and (3), the Joint Hearing shall be subject to rules agreed to by the chairs of the Budget Committees.
(2) Open hearing.--The Joint Hearing shall be open to the public, including to radio, television, and still photography coverage.
(3) Attendance.--The Joint Hearing shall accommodate non- participatory attendance by any Senator and any Member of the House of Representatives, including any Delegate or Resident Commissioner to the Congress.
(d) Effective Date.--The requirement under subsection (a) shall apply with respect to any audited financial statement submitted on or after the date of the enactment of this resolution.
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Mr. McGOVERN. Madam Speaker, I yield myself such time as I may consume.
Madam Speaker, I don't have to tell you that these are partisan times. We don't often get to consider something that is supported by both Democrats on the Rules Committee and Republicans on the Rules Committee. Not only that, an idea that was also recommended by the truly bipartisan Select Committee on the Modernization of the Congress.
That is what we have before us with H. Con. Res. 44, the Fiscal State of the Nation Resolution.
This measure from Congresswoman Rice of New York is coming before us at an especially important time, a time that finds us discussing matters like the debt ceiling, government spending, transportation, and reconciliation legislation.
It requires the director of the Government Accountability Office to deliver an annual address to a joint hearing of the House and Senate Budget Committees on the financial position and condition of the Federal Government.
Members of the media would be able to cover the hearing so the American people and not just the Members of Congress can better understand the realities about what we face today; all with the goal, Madam Speaker, of promoting greater transparency surrounding our Nation's fiscal health. That way, we have more clarity as Congress makes spending decisions in the months and years ahead that will impact every single American.
A companion measure has already been introduced in the United States Senate, since the House alone cannot tell our friends on the other side of the Capitol what to do; although, I must admit, sometimes I wish we could, Madam Speaker.
There are more than 100 cosponsors of this resolution. As I said earlier, the Select Committee on the Modernization of the Congress has already recommended this concept in their final report of the 116th Congress. I think that is because of a simple reason: We all want to make the most informed spending decisions and develop the most sensible ways to combat our debt.
You can't properly address these issues unless you fully understand them. With this resolution, through the work of the House and Senate Budget Committees, we can all better understand the fiscal reality that we face.
Don't get me wrong, Madam Speaker, I am sure we will still have many debates on this floor about what to do in response. I sure as hell would never support anything that punishes the very Americans who can least afford it.
For example, when we talk about fiscal health, I want us to acknowledge that America's tax code rewards wealth and power at the expense of working families. There has been a dramatic reduction in taxes paid by the very rich in this country over the last 60 years.
So when some say all we need to do is cut, cut, cut, I have to say I get a little confused. I think cutting Medicare, privatizing Social Security, and slashing funding for important programs that help working families is an awful idea.
Instead, I want those at the top to contribute their fair share and pay it forward so everyone else can access the opportunities and possibilities they get to enjoy.
Let me also say, taking on big problems will cost money. But in the long run, the consequences of an action oftentimes will be more expensive. Hunger is an issue that I deeply care about. It is estimated to cost Americans over $160 billions every year in lost productivity and poor healthcare outcomes.
In contrast, it would cost us just a fraction of that number to completely end hunger in America. By investing in solutions up front, we can often save a boatload of money and pass on those savings to the American taxpayer.
Now, many Members on my side feel the same way. But I get it. Many of my Republican friends probably view things differently. We can have those debates here on the floor and in the relevant committees. But because of this resolution, hopefully, Democrats and Republicans and Members of the House and Senate would at least be dealing with the same set of facts.
John Adams called facts stubborn things, and I have to tell you, Madam Speaker, he was absolutely right. But sometimes, it can feel like each side uses different statistics to talk past each other.
This measure will, hopefully, help ground our discussions about fiscal policy, so I urge all of my colleagues to join with the more than 100 Members of this body who support this resolution and with the Select Committee on the Modernization of Congress, which recommended this idea.
Let's allow Members of the House and Senate to hear directly from the GAO so that we can follow the facts and make better informed decisions about our Nation's bottom line.
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Mr. McGOVERN. Madam Speaker, I yield such time as he may consume to the gentleman from the State of Washington (Mr. Kilmer), who is the distinguished chairman of the Select Committee on the Modernization of Congress.
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Mr. McGOVERN. Madam Speaker, I would just say to the gentleman I would hate to hear what he would say if he actually opposed the bill. But the bottom line is the bills that we are trying to move through this Chamber right now that would be transformational are fully paid for. I just can't be lectured by anybody who advocated for a tax cut bill that benefited mostly the wealthy and well-off in this country that was not paid for at all and that added $2 trillion right to our debt. So spare me the lectures.
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Mr. McGOVERN. Madam Speaker, I yield myself such time as I may consume.
Madam Speaker, I would just remind the gentleman this is a bipartisan bill put forward by a bipartisan commission, and I am glad to hear him talking about the debt. I wish some of my colleagues would have talked about it when they controlled the House and the White House, but the debt that we are talking about was accumulated by Republican Presidents and Republican Congresses and Democratic Presidents and Democratic Congresses.
President Biden has only been in office 9 months, and the spending that he is proposing is to be fully paid for, with a recognition that we do not want to see an increase in our deficits and our debt.
But this is a bipartisan moment, and we should celebrate it. But maybe I am sounding a little eccentric when I say that.
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Mr. McGOVERN. Madam Speaker, I yield myself the balance of my time.
Madam Speaker, this is a bipartisan resolution. It was presented to us by a bipartisan select committee. I think we should all appreciate this particular moment.
It is about making sure that Congress is provided a presentation of the facts about our Nation's fiscal health as we make decisions that will impact America's bottom line. Democrats and Republicans could then fight it out over the next steps. We have different priorities and different values on a lot of things.
But there should be no disagreement about this resolution right now. And, surely, even in this day and age, we can all still agree on the need to get the facts in the light of day for us and the people who we represent.
Again, I want to thank Congresswoman Rice from New York for her leadership on this issue, and I want to thank my colleague on the Rules Committee Congressman Burgess for cosponsoring this legislation. There should be no controversy over this.
Madam Speaker, I yield back the balance of my time.
Miss RICE of New York. Madam Speaker, I rise today in support of my legislation, H. Con. Res. 44, the Fiscal State of the Nation resolution.
This resolution would require the Comptroller General of the United States to present an annual report on the fiscal health of the federal government to a joint hearing of the House and Senate Budget Committees, open to ALL members of Congress.
This nonpartisan presentation will offer an objective analysis of the nation's finances and allow Congress to demonstrate to the public that we are serious about improving our fiscal decision-making.
As we finalize historic investments to rebuild our infrastructure and help families and small businesses recover from this pandemic, it is more important than ever that we act as responsible stewards of the American people's tax dollars.
Every lawmaker, citizen, and media outlet should be able to reference a single, unbiased source when discussing the current and future fiscal health of our country. And the Fiscal State of the Nation would provide that valuable information with transparency and accuracy.
I'm incredibly proud this bipartisan resolution has garnered over 100 cosponsors, almost evenly split between Democratic and Republican members.
I'd like to thank my friend, Representative Andy Barr from Kentucky, for co-leading this legislation with me, and I urge its swift passage on the Floor today.
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