Today, the House passed Congressman Luke Messer's (IN-06) budget transparency bill (H.R. 1315) that would require the President's annual budget submission to include the cost-per-taxpayer of the deficit every year.
"Each hardworking American taxpayer deserves to know how much Washington's deficit spending costs them," said Rep. Messer. "The cost-per-taxpayer of the deficit will serve as a powerful reminder to the President and Congress that our decisions here in Washington have real-world consequences for people at home."
For example, the Internal Revenue Service (IRS) estimates approximately 152 million individuals will file tax returns in 2016. That means the President's $474 billion deficit will cost each taxpayer approximately $3,118.
If the same calculation is performed with our national debt, which sits at an astounding $18.1 trillion, the cost-per-taxpayer is approximately $154,000.
Rep. Messer believes the most direct path toward a healthier and more secure economy is less spending, lower taxes, balanced budgets and smaller debt. He says more transparency in the budgeting process is "a small but important first step in that direction."
"This bill won't solve our nation's fiscal problems or prevent the government from spending money it doesn't have," said Congressman Messer. "But making this information more accessible will help everyone better understand the impact of budgets that never balance."