REG Budgeting Act of 2024
1/4/2025, 11:17 AMSummary of Bill HR 7867
Bill 118 hr 7867, also known as the REG Budgeting Act, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to establish a more efficient and transparent process for budgeting and allocating funds within the federal government.The REG Budgeting Act aims to streamline the budgeting process by requiring federal agencies to submit detailed budget requests to Congress on an annual basis. These requests would include information on the agency's current spending, proposed expenditures for the upcoming fiscal year, and any anticipated changes in funding needs.
Additionally, the bill would require agencies to justify their budget requests by providing detailed explanations of how the requested funds would be used and how they align with the agency's mission and goals. This increased level of transparency is intended to help Congress make more informed decisions about how taxpayer dollars are being spent. Furthermore, the REG Budgeting Act includes provisions for regular oversight and evaluation of agency spending to ensure that funds are being used efficiently and effectively. This would involve regular audits and reports on agency spending, as well as opportunities for Congress to review and adjust agency budgets as needed. Overall, the REG Budgeting Act is aimed at improving the budgeting process within the federal government to ensure that taxpayer dollars are being used responsibly and in line with the priorities of the American people. It is currently being debated in Congress, with supporters arguing that it will lead to greater accountability and efficiency in government spending.
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Current Status of Bill HR 7867
Bill HR 7867 is currently in the status of Bill Introduced since April 5, 2024. Bill HR 7867 was introduced during Congress 118 and was introduced to the House on April 5, 2024. Bill HR 7867's most recent activity was Placed on the Union Calendar, Calendar No. 736. as of December 18, 2024Bipartisan Support of Bill HR 7867
Total Number of Sponsors
4Democrat Sponsors
0Republican Sponsors
4Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
0Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7867
Primary Policy Focus
Government Operations and PoliticsAlternate Title(s) of Bill HR 7867
REG Budgeting ActREG Budgeting ActRenewing Efficiency in Government by Budgeting ActTo amend the Unfunded Mandates Reform Act of 1995 to require the Director of the Office of Management and Budget to establish a limit for the total amount of additional unfunded regulatory costs that may be imposed in a fiscal year, and for other purposes.Comments
Most relevant
Sponsors and Cosponsors of HR 7867
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