H.R. 6952House118th Congress (2023-2025)In Committee

Fiscal State of the Nation Act

AI-Generated Summary

Updated January 20, 2026 at 2:01 PM UTC

The Fiscal State of the Nation Act requires Congress to hold an annual joint meeting to hear a presentation from the Comptroller General on the audited financial statement of the executive branch. It also mandates that budget concurrent resolutions include the findings from that presentation. The bill affects Congress, the Comptroller General, the Treasury, and the public by increasing transparency of the federal government’s fiscal condition.

Key Provisions

Adds a new subsection to 31 U.S.C. §331 requiring a joint meeting of the House and Senate within 45 days after the Treasury submits the audited financial statement, where the Comptroller General presents audit findings and a fiscal analysis of the federal government.
Specifies that the Comptroller General’s presentation must follow GAO Strategies and Means, be professional, objective, nonpartisan, and open to public broadcast and photography.
Applies the joint‑meeting requirement to any audited financial statement submitted after the law’s enactment.
Amends the Congressional Budget and Impoundment Control Act to require each concurrent budget resolution to contain a statement of findings based on the most recent Fiscal State of the Nation presentation and other relevant fiscal information.

Legislative Activity

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3 earlier actions

HouseCommittee Latest Action

Ordered to be Reported by Voice Vote.

Budget Committee

January 18, 2024

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HouseIntro Referral

Introduced in House

January 11, 2024

HouseIntro Referral

Referred to the Committee on House Administration, and in addition to the Committees on Rules, and the Budget, 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.

Committee on House Administration

January 11, 2024

HouseCommittee

Committee Consideration and Mark-up Session Held

Budget Committee

January 18, 2024

HouseCommittee

Ordered to be Reported by Voice Vote.

Budget Committee

January 18, 2024

Floor Debate

1 member

What members said about H.R. 6952 on the floor

1 Democrat

Rep. John B. LarsonD-CT-1 · Jan 18, 2024

Mr. Speaker, as we sit here currently, the Budget Committee is undertaking a matter of grave concern. I include in the Record letters from both the AFGE and the AFL-CIO with respect to the…

Mr. Speaker, as we sit here currently, the Budget Committee is undertaking a matter of grave concern.

I include in the Record letters from both the AFGE and the AFL-CIO with respect to the establishment of the so-called fiscal commission.

January 12, 2024.

AFGE Applauds Lawmakers' Call To Reject Fiscal Commission

Washington--The American Federation of Government Employees

is echoing calls from nearly 120 lawmakers for Congress to

reject a proposed fiscal commission that would bypass elected

leadership and make recommendations to slash vital federal

programs and government services.

``A fiscal commission would give a small group of lawmakers

and non-elected individuals enormous power to recommend cuts

to Social Security and other popular programs without any

ability for the public to weigh in,'' AFGE National President

Everett Kelley said.

``If Congress is serious about preserving Social Security,

Medicare, and similar programs for future generations, then

it needs to have an honest discussion about how to do that--

not pawn off these decisions to a secret group behind closed

doors.''

On Jan. 11, Reps. John Larson of Connecticut and Jan

Schakowsky of Illinois sent a letter to House Speaker Mike

Johnson and Minority Leader Hakeem Jeffries signed by 116

members of the U.S. House calling on them to exclude a fiscal

commission from legislation funding the federal government

for the remainder of fiscal 2024 or any other must-pass

bills.

``It is Congress's responsibility to conduct the oversight

and recommend enhancements to solvency or cuts, and it should

be done in the open and not behind closed doors,'' the letter

states. ``We do not need a Commission to tell us what we must

do, we need the political courage to take up these or any

other proposals in regular order.''

Congress, for example, has yet to advance Rep. John

Larson's Social Security 2100 Act, which would modernize

Social Security, increase benefits, and safeguard the trust

fund--all without raising taxes on middle income Americans or

raising the retirement age. Congress still hasn't agreed on

full-year funding for federal agencies, which have been

operating under continuing resolutions since the fiscal year

began Oct. 1.

``With just a week before government funding runs out for

various departments including Veterans Affairs, Agriculture,

HUD, and Transportation, Congress should focus on passing

full-year funding for these and other government programs

instead of trying to pawn off its tough decisions to an

exclusive commission,'' Kelley said.

Mr. Speaker, I think it is vitally important that Members understand what is being proposed and how it totally relies on no Member of this body other than the select few, Mr. Speaker, who will be chosen.

The commission is comprised of 16 individuals, 4 who are outside experts and not part of this body. The Senate will have six Members that they choose, three Republicans, three Democrats; the House three Democrats, three Republicans.

In a body of 435 people here, 3 Democrats and 3 Republicans will decide the future and fate of Social Security and Medicare. It is interesting. They will do so behind closed doors, with no obligation to report in public. Interestingly enough, too, the bill calls for them to form the committee, but they don't have to report back until after the election during a lameduck session.

Imagine that, Mr. Speaker. The committees of cognizance here that deal with these issues will have no relevance.

The only thing that will matter is an up-or-down vote decided by these individuals behind closed doors that is unamendable and comes to this floor for an up-or-down vote. This is outrageous, and it is wrong.

There are several remedies and proposals that exist out there for Social Security. This is what is so vitally important.

Close to 70 million Americans depend on Social Security, and Social Security doesn't create one penny of debt. It is a program that is fully paid for that cannot be borrowed from and has to be actuarially sound. Yet it is thrown in here by a desire by some to use a clandestine, subterranean, double-secret probation committee to cut benefits from Americans.

Adding insult to injury, the last time Congress enhanced the benefits for Social Security, Richard Nixon was President. That is more than 53 years ago now that Congress took some action to enhance benefits for people.

Mr. Speaker, 10,000 baby boomers per day become eligible for Social Security. More than 5 million of our fellow Americans get below- poverty-level checks, having worked all their lives and paid into the system.

What we need is a vote on Social Security. Put both measures side by each: a proposal to do a double-secret probation study committee versus actual legislation to improve and enhance Social Security for the more than 70 million Americans who will be participating.

Every single Member of Congress has Social Security recipients. We have sent you the exact number for your district. Imagine not having any increases in more than 53 years, for 40 percent of all Americans. In a Nation of more than 300 million people, for minimally 28 million Americans, this is the only thing they have for retirement. As everyone in this body knows, it is not just simply retirement. It is also spousal and dependent coverage. For military veterans especially, it is also for disability. This body has not done anything, nor the Senate, in 53 years.

All this study is, is kicking the can down the road and creating further problems. Oppose this legislation.

Bill Text

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Introduced in HouseIssued January 11, 2024

118th CONGRESS

2d Session

H. R. 6952

IN THE HOUSE OF REPRESENTATIVES

January 11, 2024

Mr. Moore of Utah (for himself, Mr. Peters, Mr. Barr, and Mr. Panetta) introduced the following bill; which was referred to the Committee on House Administration, and in addition to the Committees on Rules, and the Budget, 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

A BILL

To amend title 31, United States Code, to provide for a joint meeting of the Congress to receive a presentation from the Comptroller General of the United States regarding the audited financial statement of the executive branch, and for other purposes.

Short title

This Act may be cited as the Fiscal State of the Nation Act.

Annual joint meeting of Congress to receive presentation by Comptroller General

Section 331 of title 31, United States Code, is amended by adding at the end the following:

(f)

Annual joint meeting of Congress To receive presentation by Comptroller General

(1)

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 subsection (e)(1), on a date agreed upon by the Speaker of the House of Representatives and the President pro tempore of the Senate and the Comptroller General of the United States, the Congress shall hold a joint meeting (hereafter in this subsection referred to as the Joint Meeting) to receive a presentation from the Comptroller General reviewing the findings of the audit required under subsection (e)(2) 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.

(2)

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 Meeting 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 Meeting.

(3)

Open meeting

The Joint Meeting shall be open to the public, including to radio, television, and still photography coverage.

(4)

Effective date

The requirement under paragraph (1) shall apply with respect to any audited financial statement submitted on or after the date of the enactment of the Fiscal State of the Nation Act.

Inclusion of findings and analysis of Fiscal State of the Nation in concurrent resolution on the budget

Section 301(a) of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 632(a)) is amended by adding at the end the following: Each concurrent resolution on the budget shall include a statement of findings informed by the most recently conducted Fiscal State of the Nation presentation under section 331(f) of title 31, United States Code, and any other appropriate information on the fiscal condition of the United States..