H.R. 6105 would amend the Congressional Budget and Impoundment Control Act of 1974 to require that concurrent resolutions on the budget limit the growth of Federal spending to the mean of annual percentage growth of wages and gross domestic product (GDP) in the United States.
Detailed Summary
Fiscal Integrity through Transparency (FIT) Act of 2008 - Amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives or in the Senate to consider any budget resolution for any fiscal year if the percentage increase for the projected total outlays compared to the projected total outlays for the preceding fiscal year exceeds the allowable growth percentage, as determined according to a specified formula.
Requires a super majority vote in either chamber to waive or suspend such prohibition.
Requires federal departments and agencies to report annually to the Comptroller General, and federal intelligence departments and agencies and their intelligence-related divisions to report annually to the House Select Committee on Intelligence, on total department or agency operating costs for the year, with a separate statement detailing waste, fraud, and abuse during such year.
Requires each federal department or agency to design and implement a plan to reduce its operational costs from $.36 to $.15 of every $1.00 appropriated to it (or reduce such costs by 41.67%) through the use of new technologies and standard management practices.
Requires the Secretary of the Treasury to include, on each federal tax return, a statement of the aggregate dollar amount of waste, fraud, and abuse by all federal departments and agencies for the most recent year accounted for.
Requires all requests for earmarks received by the congressional appropriations committtees or subcommittees to be posted on their respective websites at least 14 calendar days before mark-up of the applicable measure.
Requires each such posting to include the name of the requesting Member, the cost of the earmark, and a justification of its need.
Status of the Legislation
Latest Major Action: 5/21/2008: Referred to House committee. Status: Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on Rules, the Budget, and Ways and Means, 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.
Points in Favor
(Log in to edit the wiki and be the first to show why the bill should pass!)
Points Against
(Log in to edit the wiki and be the first to show why the bill should not pass!)
Visitor Comments
There are currently no comments for this bill.