S.1160 - Locating Every Disbursement in Government Expenditure Records Act; LEDGER Act (119th Congress)
Summary
The LEDGER Act (S.1160) aims to enhance the traceability of federal government expenditures. It mandates the Secretary of the Treasury to implement a system tracking all outlays from each appropriation, receipt, or other fund account within 180 days of enactment. This system would cover all branches of the government and include tracking the period of availability for funds.
Expected Effects
The primary effect will be increased transparency and accountability in government spending. This will allow for better oversight and potentially reduce waste and fraud. The Act amends Title 31 of the U.S. Code to include this new requirement.
Potential Benefits
- Improved transparency in government spending.
- Enhanced accountability for federal agencies.
- Potential reduction in wasteful spending and fraud.
- Better oversight by Congress and the public.
- Facilitation of more informed budget decisions.
Most Benefited Areas:
Potential Disadvantages
- Potential costs associated with implementing the new tracking system.
- Possible delays in government processes due to increased reporting requirements.
- Risk of data breaches or misuse of the tracked information.
- Potential for increased bureaucracy and administrative burden.
- Possible resistance from agencies due to increased scrutiny.
Constitutional Alignment
The LEDGER Act aligns with the Constitution's emphasis on government transparency and accountability. Article I, Section 9, Clause 7, which requires a regular statement and account of receipts and expenditures of all public money, supports the intent of this bill. The Act also supports the general welfare clause by promoting responsible use of taxpayer money.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).