PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on the Budget.
Congressional Research Service
Version 00 · Introduced in Senate · Jul 29, 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
Sen. Braun, Mike [R-IN] · R–IN
Legislative record
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Read twice and referred to the Committee on the Budget.
Introduced in Senate
Primary sources
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Source last updated: Dec 5, 2025. Consult Congress.gov for the current record.
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