CONGRESS FOR VOTERS

Richard McCormick (R-GA)

Incentivize Savings Act

H.R. 5438 · House bill Economics and Public Finance

A Republican bill with 4 Democratic cosponsors · See all 69 cosponsors

Last activity — Ordered to be Reported (Amended) by the Yeas and Nays: 25 - 19.

Introduced, nothing more yet

Formally proposed, and not yet handed to a committee.

Nearly every bill is sent to a committee within days. Introduction alone is not a sign of support, of momentum, or of any likelihood of passing — any member may introduce any bill.

Its path through Congress

  1. Introduced

What this bill would do

This bill is called the Incentivize Savings Act. It sets up new rules for what happens when a federal agency does not spend all of its appropriated money. Under the bill, unspent funds are split up in three specific ways. First, 49 percent of the money stays available for the agency for an additional fiscal year. Second, 49 percent of the money goes toward paying off the public debt. Third, 2 percent of the money is used to pay retention bonuses to employees within that agency. The bill also places a limit on the future budget requests of agencies that have unspent funds.

Yes· 3 of 6

  • Scored +5

    Does this reduce what the federal government owes?

    The bill mandates that 49 percent of unexpended agency funds be used for payments on the public debt.

  • Scored +4

    Does this reduce what the federal government spends?

    The bill restricts future budget requests for agencies that fail to spend their current appropriations.

  • Scored +1

    Is this likely to create jobs?

    The bill allows for unexpended funds to be used for employee retention bonuses within federal agencies.

The opposite

No question was scored the opposite.