S. 2420: Budget and Accounting Transparency Act of 2014

113th Congress · introduced 2014-06-03 · Economics and Public Finance · Latest: Read twice and referred to the Committee on the Budget.

federal

Follow this bill, step by step

Where it came from: introduced 2014-06-03 · official record
Who proposed it: Sen. Fischer, Deb [R-NE] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on the Budget. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Budget and Accounting Transparency Act of 2014

Plain summary

Budget and Accounting Transparency Act of 2014 - Amends the Federal Credit Reform Act of 1990 (FCRA) (title V of the Congressional Budget Act of 1974) to revise the budgetary treatment of federal direct loans and loan guarantees to account for them on a fair value basis. Requires the President's budget to reflect the costs of direct loan and loan guarantee programs by including the planned level of new direct loan obligations or loan guarantee commitments associated with each appropriations request. Requires agency estimates with and without a risk component that reflects the impact of using a fair value estimate to account for market risk. Requires new budget authority and funding limitations for the cost of new direct loan obligations or loan guarantee commitments to be provided in advance. Prohibits modifications that increase costs unless budget authority has been provided in advance. Defines "cost" to include the risk component. Includes exemptions. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to permit adjustment of discretionary spending limits for this Act. Changes the budgetary treatment of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Budget and Accounting Transparency Act of 2014

Source: Congressional Research Service summary (Introduced in Senate)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Fischer, Deb [R-NE] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Sen. Fischer, Deb [R-NE] reported raising $976,129 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113s2420.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/s>

Record fed-us-cong113-s2420 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113