Fix the Debt Applauds Introduction of the INFORM Act
Washington, DC (PRWEB) July 27, 2013 -- On July 24, Senators John Thune (R-SD) and Tim Kaine (D-VA) introduced the INFORM Act. In a CNN column published that same day, they explained how the bill requires detailed accounting – known as generational accounting – of how budget and policy recommendations will affect young people in the future.
The Campaign to Fix the Debt, a nonpartisan movement asking lawmakers to work together on legislation large enough to stabilize and reduce the national debt as a share of the economy, reacted to the bill.
“We are encouraged that the INFORM Act has been introduced in the Unites States Senate, shining light on the risks today’s national fiscal policies will impose on future generations of Americans. This legislation, championed by the Millennial-led ‘The Can Kicks Back’ campaign, will be critical in demonstrating how the next generation has the most to lose if Washington continues to kick the can down the road,” said Maya MacGuineas, who, in addition to leading the Campaign to Fix the Debt, is the President of the Committee for a Responsible Federal Budget, a bipartisan organization focused on educating the public on issues related to fiscal policy.
“By incorporating fiscal gap and generational accounting analysis in the federal budgeting process, the INFORM Act will underscore that continued inaction on the long-term drivers on our debt will leave young Americans with a bill beyond their capacity to pay and a lower standard of living than that of their parents and grandparents.
“Moreover, if signed into law, the legislation will provide a way to view various spending and tax proposals in terms of their longer-term fiscal effects. This legislation is an important step toward helping Washington face the fiscal facts: our debt problem is far from solved, and the longer we wait to address it, the greater the burden will be on the future generations,” continued MacGuineas.
Members of the Campaign to Fix the Debt come from a broad range of social, economic, and political perspectives with the belief that America's growing debt burden threatens our future, and that we must address it now. The Campaign mobilizes key communities – including leaders from business, government, and policy – and people all across America who want to see elected officials step up to solve our nation's fiscal challenges.
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For more information about the Campaign to Fix the Debt, please visit http://www.fixthedebt.org.
Jon Romano, Fix the Debt, http://www.fixthedebt.org/, (617) 435-6613, [email protected]
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