S 75 · in committee · major
Improving Federal Financial Management Act
- government reform
What this bill does
- This bill requires the Office of Management and Budget to develop a four-year financial management improvement plan for all federal agencies.
- Federal agency Chief Financial Officers gain new responsibilities for budget oversight, financial systems, and performance reporting.
- OMB must submit the plan within six months and annual status reports thereafter; agencies must report progress to Congress yearly.
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Community Threads
Started by Cosponsor
- 01
How would shifting budget oversight responsibility to agency CFOs change federal spending transparency and accountability compared to current OMB-centered processes?
- 02
Which federal agencies currently lack the financial systems infrastructure to meet these new reporting requirements, and what resources would they need?
- 03
What measurable outcomes should Congress expect from this four-year plan to determine whether the burden of new reporting duties produces meaningful cost savings?
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Sponsor · R-OK
James Lankford
Citizen cosponsors
0
In Congress
1/ 100
Senators cosponsoring
Introduced 2025-01-13
Joining the bill
Legislative timeline
2025-01-13 · senate · IntroReferral
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
2025-01-13 · IntroReferral
Introduced in Senate
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