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  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on the Budget
      House Committee on Rules
    IntroducedJuly 29th, 2010

Bill Details

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Title

Truth in Spending Act of 2010

Official Title

To increase the long-term fiscal accountability of direct spending legislation.

Summary

Truth in Spending Act of 2010 - Requires the President's annual budget request to Congress to include the most recent reports of the Director of the Office of Management and Budget (OMB) regarding the difference between the actual costs and the estimated costs of direct spending legislation, including proposed legislative language, if any, in such reports. Requires OMB to submit annually for inclusion in the President's budget request reports (with follow-up reports every five fiscal years) on the total estimated cost and total actual cost of direct spending legislation for the then budget year and four outyears. Requires the President, within seven days after receiving an OMB report, to submit proposed legislative language, if any, set forth in the report to both chambers. Prescribes the procedure for fast track consideration of the legislation in both chambers.

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