FOR IMMEDIATE RELEASE
August 6, 2013
Bipartisan Budget Reform Proposed by Young People Introduced in U.S. House
Legislation Endorsed by 300+ Leading Economists and Former Government Officials
Washington, DC – The Can Kicks Back, a non-partisan and Millennial-led campaign to mobilize young Americans on the issue of the growing national debt, today expressed its gratitude and encouragement to Representatives Jim Cooper (D-Tenn.) and Aaron Schock (R-Ill.) for introducing the INFORM Act, which would provide additional information to legislators about the impact that today's fiscal policy will have on young people and future generations.
"Representatives Cooper and Schock demonstrate both bipartisan and intergenerational support for this bill," said Ryan Schoenike, Executive Director of TCKB. "This effort is about forcing Washington to face the facts, rather than kick the can."
The INFORM Act, or Intergenerational Financial Obligations Reform Act, is based on recommendations made by The Can Kicks Back in its February whitepaper, “Three Smart Steps Toward Solvency.” It would require the Congressional Budget Office, Government Accountability Office and Office of Management and Budget to incorporate fiscal gap and generational accounting analysis in the budgeting and legislative process.
“Today’s estimated costs are tomorrow’s record deficits. The INFORM Act gives Congress a reality check on the long-term costs of important legislation," said Rep. Cooper.
“The INFORM Act is a smart tool Congress can use to gain a better understanding of the long-term financial decisions we are making when considering legislation," said Rep. Schock.
To date, over 300 leading economists and former government officials have endorsed the legislation, including eleven Nobel laureates, former heads of the Office of Management and Budget and Government Accountability Office and former chairmen of the Senate Budget Committee from both political parties.
"Aside from being good policy, the INFORM Act also indicates the meaningful role young people can play when they get engaged and speak up," said Schoenike. "We look forward to activating our supporters and working with other lawmakers to see this bill become law this year."
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.
FOR IMMEDIATE RELEASE