RECLAIM Taxpayer Funds Act

Hozzl · 2023-12-15T16:00:38Z

Explore the details of House Bill 4667 RECLAIM Taxpayer Funds Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

12/15/2023, 4:00 PM

Summary of Bill HR 4667

Bill 118 hr 4667, also known as the RECLAIM Taxpayer Funds Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to ensure that taxpayer funds are being used efficiently and effectively by government agencies.

The bill includes provisions that require federal agencies to regularly review and report on their spending to identify any wasteful or unnecessary expenditures. It also establishes a process for taxpayers to report instances of government waste or abuse, and requires agencies to investigate and address these reports in a timely manner.

Additionally, the RECLAIM Taxpayer Funds Act aims to increase transparency and accountability in government spending by requiring agencies to make their budgets and spending data easily accessible to the public. This will allow taxpayers to see how their money is being used and hold government officials accountable for their spending decisions. Overall, the RECLAIM Taxpayer Funds Act is designed to promote responsible stewardship of taxpayer funds and ensure that government agencies are using public money in a responsible and efficient manner.

Congressional Summary of HR 4667

Returning Erroneous COVID Loans Addressing Illegal and Misappropriated Taxpayer Funds Act or the RECLAIM Taxpayer Funds Act

This bill requires the Small Business Administration (SBA) to issue guidance for borrowers and lenders about returning any unused Paycheck Protection Program (PPP) loan amounts made to the borrower. The SBA must track the amounts of PPP loans returned to mitigate the risk of financial loss.

The guidance must be issued not later than 30 days after the bill is enacted.

Read the Full Bill

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Current Status of Bill HR 4667

Bill HR 4667 is currently in the status of Introduced to Senate since December 4, 2023. Bill HR 4667 was introduced during Congress 118 and was introduced to the House on July 17, 2023. Bill HR 4667's most recent activity was Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. as of December 4, 2023

Bipartisan Support of Bill HR 4667

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4667

Primary Policy Focus

Commerce

Potential Impact Areas

- Government lending and loan guarantees

- Government studies and investigations

- Small business

Alternate Title(s) of Bill HR 4667

RECLAIM Taxpayer Funds Act

Returning Erroneous COVID Loans Addressing Illegal and Misappropriated Taxpayer Funds Act

RECLAIM Taxpayer Funds Act

Returning Erroneous COVID Loans Addressing Illegal and Misappropriated Taxpayer Funds Act

RECLAIM Taxpayer Funds Act

Returning Erroneous COVID Loans Addressing Illegal and Misappropriated Taxpayer Funds Act

To require the Administrator of the Small Business Administration to issue guidance and rules for lenders and the Small Business Administration on handling amounts of Paycheck Protection Loans returned by borrowers, and for other purposes.