Purpose: To hold government officials accountable for unreasonable or wasteful spending of taxpayer dollars through independent oversight and mandatory public reporting.
Bill Summary
1. Establishment of an Independent Accountability Office (IAO):
• Create an independent body responsible for reviewing and auditing significant federal expenditures.
• The IAO would identify and report wasteful or questionable spending by federal agencies and elected officials.
2. Mandatory Public Report on Major Expenditures:
• All federal expenditures over a certain threshold (e.g., $10 million) must undergo an IAO review.
• The IAO would publish quarterly reports listing any flagged instances of unreasonable or wasteful spending, available publicly in an easily accessible online format.
3. Penalties for Excessive or Wasteful Spending:
• Introduce financial penalties or budget restrictions for agencies or officials that repeatedly engage in unnecessary spending.
• Agencies with excessive waste reports could face budget reductions or specific oversight on future spending until corrected.
4. Personal Accountability Measures:
• For cases where individuals (e.g., department heads, elected officials) knowingly approve unreasonable expenditures, they could face penalties, including reduction in budgetary discretion, limits on future funding requests, or even personal fines.
• For high-profile cases, Congress would have the power to bring certain expenditures to a vote to compel transparency and accountability.
5. Public Review Period and Feedback Mechanism:
• Before approving major new expenditures, the government would open a public feedback period where taxpayers can review and comment on proposed high-cost projects, ensuring greater transparency.
Expected Impact
This bill would deter wasteful spending by imposing direct consequences, providing transparency, and empowering the public to have a voice in significant government expenditures. Through independent oversight and mandatory accountability, officials would face stronger pressure to justify spending decisions in line with taxpayers’ interests.