Legislation Championed by Millennials Introduced in U.S. Senate
ICYMI: See yesterday's press release about the INFORM Act - a bipartisan bill based on recommendations by The Can Kicks Back to show the impact of the federal budget on young people and future generations.
- BuzzFeed Video via @NowThisNews: "Senators Thune And Kaine Introduce Bipartisan Budget Reform The Inform Act seeks to lessen burden on millennials. Thanks for the debt, Mom and Dad."
- POLITICO by Kevin Cirilli: "They say the bill — dubbed The Intergenerational Financial Obligations Reform Act — would help Americans understand the long-term costs of government debt."
Senators John Thune (R-SD) & Tim Kaine (D-VA), Sponsors of the INFORM Act:
“Young Americans in their 20s and 30s deserve to know what the decisions of today's lawmakers mean for their future. And lawmakers should use every tool at our disposal to make better decisions. We believe this approach will help us improve the fiscal health of the country.” Read their full CNN Op-ed.
Senator Chris Coons (D-DE), Co-Sponsor of the INFORM Act:
"The current system just is not set up to take future generations’ interests into account, when in reality, the budget decisions Washington makes today have as much, if not more, of a fiscal impact on our kids as they do on us. This bill would provide Washington with the tools to consider those impacts and really give young people and future generations a seat at the table as these choices are being made.”
Senator Rob Portman (R-OH), Co-Sponsor of the INFORM Act:
"It’s time for Washington’s pattern of reckless spending to come to an end so that future generations are not unfairly weighed down by a mountain of debt. By requiring Congress to be up-front about the long-term financial effects of legislation, this bill will help curb wasteful spending and open up opportunities for our children and grandchildren.”
James Heckman, Nobel Laureate and Economist at the University of Chicago:
“This generation of Americans is very likely to be the first generation in our history as a nation to leave a worse economy and a worse fiscal position than the one they inherited. The INFORM Act is a step in the right direction toward informing Americans of the magnitude of this problem.” See the full list of 10 Nobel Laureates who have endorsed the INFORM Act.
Kent Conrad (D-ND) & Judd Gregg (R-NH), Former Senators and Budget Committee Chairmen:
"We support the bipartisan INFORM Act because it will shed additional light on the full size and the intergenerational consequences of our nation's fiscal imbalance. By showing the significant costs of delay, we believe the INFORM Act can help increase the urgency to address our debt so that we can leave a better country to our kids and grandkids than we had handed to us." Read their full statement.
David M. Walker, former head of the Government Accountability Office:
“[T]he real financial burdens being placed on young people and future generations are not adequately disclosed and action to fix this problem is being delayed....In order to make better decisions for tomorrow’s Americans, today’s elected leaders need to have better information—and the integrity to honestly share that information with the rest of us.” Read the full Reuters op-ed.
Bob Bixby, Executive Director of the Concord Coalition
“All too often…Washington allows short-term political concerns and special-interest pressures to trump long-term fiscal responsibility. This new legislation would provide valuable tools to help correct that pattern and keep elected officials -- and the American public -- focused on the nation’s long-term fiscal and economic goals.” Read the full press release.
Maya MacGuineas, President of the Committee for a Responsible Federal Budget
“By incorporating fiscal gap and generational accounting analysis in the federal budgeting process, the INFORM Act will underscore that continued inaction on the long-term drivers on our debt will leave young Americans with a bill beyond their capacity to pay and a lower standard of living than that of their parents and grandparents.” Read her full statement.
John Endean, President of the American Business Conference:
“We hope [the INFORM Act] will remind everyone, young and old, of the ‘golden rule of economics’: namely, that it is the responsibility of the current generation to leave for the future an economy stronger, not weaker, than the one they inherited.” Read his full statement.
Nick Troiano, Co-Founder of The Can Kicks Back:
"It’s time for our leaders to face the facts, not kick the can. My generation’s future — and our American Dream — hangs in the balance. While significant work remains before the INFORM Act becomes law, its bipartisan introduction demonstrates the power of millennials and their idea." Read the full PolicyMic Op-ed.
The Can Kicks Back is a non-partisan, Millennial-driven campaign to fix the national debt and reclaim our American Dream. More information is available at www.TheCanKicksBack.org/informact.