Oversight

Congress’ Role in Federal Financial Management: Is it Efficient, Accountable, and Transparent in the Way it Appropriates Funds?

Date: May 25, 2006
Time: 2:30pm
Location: Senate Dirksen Building, SD-342
Agenda:

 

********

Three decades ago, the 1974 Congressional Budget Act gave Congress the tools it needed to develop budget priorities independent of the Executive Branch. Since then, the process has been changed in an attempt to ensure fiscal restraint in the passage of each year’s budget resolution. Congress plays a critical role in determining the financial management of agencies through the funds that it appropriates. But Congress itself has a powerful role in Federal Financial Management through the financial controls it sets on itself. What is Congress’ role in ensuring efficiency, accountability, solvency, and stewardship of the federal government? This hearing will discuss Congress’ role and effectiveness in the federal budget process, as well as ways it can improve the management of federal funds.

Witnesses

Panel 1

The Honorable

David M.

Walker

Comptroller General

U.S. Government Accountability Office

Panel 2

James C.

Miller, III

Former Director, Office of Management and Budget

Panel 2

Dr.

Douglas

Holtz-Eakin

Former Director, Congressional Budget Office

Panel 2

The Honorable

Tim

Penny

Former Congressman

Panel 3

Chris

Edwards

Director of Tax Policy Studies

Cato Institute

Panel 3

Maya

MacGuineas

President, Committee for a Responsible Federal Budget

New America Foundation