Legislation would make federal spending transparent

November 1, 2011 3:18:42 PM PDT
Lawmakers are introducing new legislation that would increase transparency in federal government spending.

Illinois congressmen Robert Dold said the bill would require the government to publish its financial statements online.

Lawmakers say their "truth in government accounting act" will help taxpayers understand how the government utilizes their money.

The legislation would also require the government's financial statements to be independently audited.

The bill is co-sponsored by Illinois congressman Mike Quigley.

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