Lubbock Times

Last week, the House Budget Committee marked up five additional budget process reform bills, including H.R. 8372, the "Debt Per Taxpayer Information Act." The bill was favorably reported by the House Budget Committee on a bipartisan vote of 21 ayes to 4 nays.

The "Debt Per Taxpayer Information Act," sponsored by Chairman Jodey Arrington (R-TX), aims to provide each American filing a tax return with information on their W-2 about federal revenues, outlays, and deficit in the latest available tax year. It will also include details on the total gross debt and the estimated debt per taxpayer. The enactment of H.R. 8372 would require the President’s budget request and the concurrent budget resolution to include estimates of debt per taxpayer.

Stakeholders and industry experts have voiced their support for swift passage of H.R. 8372:

Kurt Couchman from Americans for Prosperity stated, “The federal government's growing debt burden threatens our freedom and prosperity as well as America's leading role in global affairs. Congress must change course, but doing so is difficult when the federal government's fiscal outlook is poorly understood.” He added that the Debt Per Taxpayer Information Act would improve common knowledge on budget challenges facing Congress and the American people.

Wayne Crews from Competitive Enterprise Institute commented, “Chairman Arrington and the Budget Committee are to be commended for their dedication to advancing this legislation. Given the importance of fiscal responsibility and informed governance on both the spending and regulatory axes, the Debt Per Taxpayer Information Act represents an important advance in enhancing public awareness of our nation's fiscal challenges.”

Demian Brady from National Taxpayers Union Foundation remarked, “Decades of overspending have driven the gross debt to over $34 trillion. Chairman Arrington's Debt Per Taxpayer Information Act would help ensure that taxpayers and lawmakers are apprised of the scale of the debt that has been accumulated.” He emphasized that promoting transparency and awareness empowers taxpayers with crucial information about the nation’s fiscal health.

David Williams from Taxpayers Protection Alliance noted, “The Debt Per Taxpayer Information Act is a welcomed step in increasing transparency about America’s fiscal crisis and a cost-effective method to educate the public on reality of nation’s $34 trillion in debt.” He pointed out that including this information in every taxpayer’s W-2 form will make sure all Americans remain vigilant about sudden increases in national debt.