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Chaffetz Introduces Series of Fiscal Bills

Bills will have a positive impact on the nation’s balance sheet

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Washington, Jan 5, 2017 | comments

WASHINGTON, D.C. – Today, Congressman Jason Chaffetz (R-UT) re-introduced a series of four bills intended to preserve and improve the nation’s fiscal health.

“In keeping with my commitment to fiscal responsibility, I am prioritizing legislation that will have a positive impact on the nation’s balance sheet – in big ways and small.  After eight disastrous years in which our national debt grew from $9 trillion to $19 trillion, we have a lot of work to do,” Chaffetz said.

Bills include:

  • H.R. 297, Review Every Dollar Act which strengthens spending controls, enhances oversight of government spending, and brings honest accounting to Washington’s broken budget process. The bill includes a requirement for periodic sunset reviews of federal programs, mandated deficit reduction accounts, a designation of Pell grants as discretionary spending, and checks the ability of the executive branch to add administrative costs to mandatory spending without Congressional approval.   
  • H.Res 24, expresses Congressional opposition to bailouts for state/local government pension plans, many of which are critically underfunded. This resolution was first introduced in 2011 and encourages states to adopt defined contribution plans to replace defined benefit plans.
  • H.R. 298, Fannie Mae and Freddie Mac Transparency Act subjects the mortgage giants to the Freedom of Information Act (FOIA) during periods when these entities are in conservatorship or receivership. Since 2008, these entities have been the recipients of billions in taxpayer dollars. However, they are not subject to transparency and accountability provisions that help deter waste, fraud, and abuse. 
  • H.R. 296, PRO Sports Act eliminates the 501(c)(6) taxpayer exemption for professional sports leagues with annual revenues exceeding $10 million. The National Hockey League (NHL), Professional Golf Association Tour (PGA), and Ladies Professional Golf Association (LPGA) would be affected. In 2015, the National Football League voluntarily relinquished its tax-exempt status after this bill was introduced in the 114th Congress.



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