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Donalds Bipartisan Bill To Put The American Taxpayer First Advances To House Floor With Vote Of 24-15

Washington, November 25, 2024

WASHINGTON – The U.S. House Committee on Oversight and Accountability advanced H.R. 9040 – "The Bipartisan Taxpayer Exposure And Risk Reduction (TERRA) Act" out of committee and to the floor of the U.S. House of Representatives with vote a of 24-15.

The Donalds TERRA Act includes innovative provisions that will ensure government prioritizes the interests of the hardworking American taxpayer. This America First legislation will reduce risk to taxpayers, ensure that government is held accountable, increase fiscal responsibility, and promote market-driven efficiency.

H.R. 9040 – "The TERRA Act" is one of more than one hundred pieces of legislation introduced by Congressman Donalds during the 118th Congress and is cosponsored by Congressman Raja Krishnamoorthi (D-IL).

Background:

  • Instructs federal agencies with credit, guarantee, or insurance risk on their balance sheets to develop and implement strategies to transfer such risk to the private sector—provided it is of benefit to the taxpayers
  • Identifies existing barriers to such types of risk transfer and ensures agencies address obstacles to minimizing taxpayer financial risk exposure
  • Builds on the stability and efficiency already provided by credit and insurance risk transfer in several federal programs


More:

  • Social Media Summary Roll-Out HERE.
  • Read the Full Text of the Legislation HERE.
  • Congress.gov profile of the Legislation HERE.