James Lankford (R-OK)
Improving Federal Financial Management Act
A Republican bill with 1 Democratic cosponsor · See the cosponsor
Last activity — Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The Improving Federal Financial Management Act aims to modify the governmentwide financial management plan. It updates the duties of agency Chief Financial Officers to include overseeing budget execution, risk management, and internal controls. The bill requires agencies to create specific plans to implement a four-year financial management plan. It also changes the duration of the governmentwide financial management plan from five years to four years. Additionally, the act modifies audit requirements to include evaluations of internal controls.
Yes· 3 of 4
- Scored +6
Does this make what the government does easier for the public to see?
The bill requires agency financial plans and progress reports to be made publicly available.
- Scored +5
Does this make the government pay for what it commits to?
The bill strengthens oversight by requiring agency CFOs to oversee budget execution, risk management, and internal controls.
- Scored +3
Does this reduce what the federal government spends?
The bill aims to improve financial management by eliminating duplicative and unnecessary systems and activities.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Transparency: Agency plans to implement financial management must be made publicly available (Section 2(a)(5)(D)).
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Improved Accountability: Chief Financial Officers are now explicitly tasked with the duty and responsibility to oversee specific areas like budget formulation, execution, and risk management (Section 2(a)(1)(A)).
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Enhanced Oversight: The bill requires agencies to include progress on implementing agency plans and performance against financial management metrics in their reports (Section 2(a)(1)(7)(B)).
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Strategic Decision Making: The governmentwide plan will include linking performance and cost information to facilitate more effective and efficient decision making (Section 2(b)(1)(A)(ii)(B)(II)).
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Efficiency and Cost Savings: The plan aims to improve financial management by eliminating duplicative and unnecessary systems and activities (Section 2(b)(1)(A)(ii)(B)(III)).
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Resource Sharing: The updated plan encourages agencies to identify opportunities to share systems and services where practicable (Section 2(b)(1)(A)(ii)(B)(IV)).
Potential Negative Impacts for People
- No specific negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Does this make the government pay for what it commits to? — The bill strengthens oversight by requiring agency CFOs to oversee budget execution, risk management, and internal controls. Does this reduce what the federal government spends? — The bill aims to improve financial management by eliminating duplicative and unnecessary systems and activities.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill requires agency financial plans and progress reports to be made publicly available.
- Demographic And Interest Groups
- Would business owners be better off under this? — The bill's focus on eliminating duplicative systems could lead to more efficient government interactions with the business sector.
- 4/27/2026
- 1 Cosponsor added.
- 1/13/2025
- Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Maggie HassanDemocrat · New Hampshire