The 115^th Congress is officially underway, and I am excited to be back in Washington to represent Ohio’s 16^th District. I am eager to begin passing legislation that will benefit the American people and to act on the mandate Republicans were given in November 2016. 

Last Friday, I reintroduced my Fiscal State of the Nation Resolution. Our country’s national debt is about to exceed $20 trillion, which is why the Fiscal State of the Nation Resolution is so important. This resolution will provide Members of Congress and the American people an annual update on the long-term financial health of the country.

Our nation’s finances are one of the most important pieces of information lawmakers should consider when deliberating on legislation and setting the policy agenda for each Congress. Currently, the Financial Statements for the United States are buried in the middle of a 300 page financial report posted on the Treasury and GAO website. This has led to the financial statements – which provide important information on the assets, liabilities, revenues, expenses, and sustainability of social insurance programs – to go unnoticed by many Members of Congress.

The Fiscal State of the Nation Resolution provides this information directly to Congress and brings greater awareness to the long-term financial constraints that face the United States. This legislation will simply require the Comptroller General of the United States to present the financial report of the United States in a Joint Session of Congress.  This will take place within forty-five business days of issuance of the audited Financial Report to ensure lawmakers receive the information in an accurate and timely manner.

When I introduced this bipartisan resolution during the 114^th session, we had 160 co-sponsors from both parties. The Fiscal State of the Nation Resolution is an important first step in the right direction to becoming more fiscally responsible and securing a more prosperous future for generations to come. 

The next step in securing this future will be my Budget Enforcement Awareness Resolution (BEAR), which I will be introducing in the coming weeks. While Fiscal State of the Nation focuses on educating Congress about our government’s financial condition, BEAR focuses on the enforcement aspect to make sure Congress is actually holding itself accountable to its budget.

As a business owner for nearly three decades and as a mayor who was required to balance a budget like hard-working American families have to do, I understand the importance of passing a budget that promotes efficiency, effectiveness, and accountability. I also know from my time in the real world that when you set a budget, you need to abide by it.

BEAR focuses not only on making sure Congress is aware of our fiscal situation and our budgetary goals but also improves financial transparency for every piece of legislation that makes its way to the floor of the House. With our current process, it is possible for budget-related objections to be ignored.

We cannot allow this to happen any longer if we want to reduce our country’s debt and deficit. Therefore, my resolution would amend House rules to give all House members the opportunity to ensure their fellow members know that the House is considering budget-breaking legislation and to put all colleagues on record as to whether they want to proceed with that legislation.

As a CPA and business owner, I know how important these resolutions are to ensure that your tax dollars are spent in the most mindful and responsible way possible and that your government lives within its means, just as you must. We cannot continue to jeopardize our financial security any longer.