PlainBillCongress, translated.Legislation. Context. Public interest.Sponsor introductory remarks on measure. (CR H5516)
Congressional Research Service
Version 00 · Introduced in House · Sep 22, 2021
Intergenerational Financial Obligations Reform Act
This bill requires the Congressional Budget Office, the Office of Management and Budget, and the Government Accountability Office to provide various reports that include a fiscal gap analysis and a generational accounting analysis.
Under the bill, the fiscal gap generally refers to the sum of (1) the total amount of Treasury liabilities outstanding on the last day of the budget year, and (2) the discounted present value of the projected difference between federal spending and revenues during the period of the budget year and at least the next 75 fiscal years (excluding spending for net interest and principal payments on Treasury liabilities).
A generational accounting analysis addresses the fiscal impact that projected federal spending and tax burdens will have on various generations of individuals.
People & committees
Rep. Murphy, Gregory [R-NC-3] · R–NC
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Sponsor introductory remarks on measure. (CR H5516)
Referred to the House Committee on the Budget.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Sep 8, 2026. Consult Congress.gov for the current record.
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Analyze H.R.5340 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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