Monday, March 07, 2011

Senators Introduce Bill that Would Provide Detailed Tax Receipt

Senators Bill Nelson (D-Fla.) and Scott Brown (R-Mass.) recently proposed a bill that would provide taxpayers a detailed receipt showing how their money was spent each year. Wouldn’t cost much, but would it make a difference? reports:

    "Taxpayers have a right to know where their money goes, how much Uncle Sam is borrowing on their behalf, and what they get in return for it," Nelson said.

    The receipt would show the amount of debt per person, interest on the national debt, and spending for Social Security, Medicare and Medicaid, national defense, education, veterans’ benefits, environmental protection, foreign aid and by the Congress.

    Taxpayers also would be directed to a website where they could get more detailed information on programs not included on the one-page receipt.

    "Our bipartisan legislation will help give Americans the tools they need to better understand federal spending," Brown said. "As we work together to rein in our spending and tackle our national debt, it is important that we provide transparency and accountability to the process to help us determine what spending we need and what we can live without."

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