House Passes Deficit Transparency Bill

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March 5, 2013       

Measure Would Help Taxpayers Understand Their Share of the National Deficit

WASHINGTON – U.S. Rep. Jim Cooper (TN-05) today voted in support of a bill requiring that the President’s annual budget submission to Congress include the cost per taxpayer of the deficit. H.R. 668 passed the House by a vote of 392-28, with one voting present and 10 not voting.

“Our debt and deficit are the greatest threats we face to our economic security,” said Cooper, a longtime fiscal hawk. “Before we can cure an illness, we have to diagnose it; this is a good first step toward helping every American understand the gravity of our financial woes.”

Cooper has introduced similar measures in the past to shed light on taxpayers’ share of federal government spending, including the Taxpayer Receipt Act, which would provide each American with an itemized tax receipt, showing how an individual’s tax dollars are spent and their share of the national debt.