Fiscal State of the Nation Act

The Fiscal State of the Nation Act would establish an annual requirement for congressional budget committees to conduct a joint hearing. During this hearing, the Comptroller General—the head of the Government Accountability Office—would present findings from the GAO's annual audit of the executive branch's financial statements and provide an overview of the federal government's overall financial position and condition.

If enacted, this bill would create a formal, recurring opportunity for Congress to receive and review comprehensive information about federal finances in a structured setting. The practical effect would be to ensure that lawmakers and the public have regular, official presentations about the government's financial health, including any audit findings or concerns identified by the GAO. Currently in committee, the bill has not yet been voted on by the full House.