Thune introduces bill aimed at studying budgets for future gener - KOTA Territory News

Thune introduces bill aimed at studying budgets for future generations


One KOTA Territory lawmaker signs on to a bill that aims to secure financial responsibility for generations to come.

U.S. Senator John Thune (R) from South Dakota and Democratic Senator Tim Kane from Virginia have introduced the Intergenerational Financial Obligations Reform Act.

It would require government offices to provide a detailed analysis of how congressional budgets and major pieces of new legislation would impact future generations.

It would also require the president to provide a detailed account on how the administration's budget would affect young people.

"We're not planning just for today, but also thinking in terms of the impact this is going to have on our children and our grandchildren, and that's something that's way too rarely used around here," said Thune.

Under the current practice congress is only provided with budgetary impacts for the next 10 years.

The new bill would require reports that look up to 75 years down the road.

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