Washington, DC—U.S. Senator Tim Johnson (D-SD) today joined a bipartisan effort to pass legislation letting Americans easily know where their tax dollars are being spent. Johnson cosponsored the Taxpayer Receipt Act, which would require the Treasury Department to provide all taxpayers with a free, easy to understand, one-page document that itemizes how their tax dollars were spent across all major categories.
“We get a receipt for nearly everything we purchase, but the Internal Revenue Service does not provide taxpayers with easy to understand information about how the government is putting their tax dollars to work. The American people should know where their tax dollars are being spent,” said Johnson.
Under this legislation, the Treasury Department would provide anyone that files an individual income tax return with a one-page document that breaks down how much of their income was spent across nearly thirty categories including Social Security, Medicare, Medicaid, national defense, education, veterans’ benefits, Community Development Block Grants, foreign aid, and interest on the debt.
The document, similar to a grocery receipt, would be sent securely via email to those who filed their taxes online or through the United States Postal Service for those who used paper forms. The Internal Revenue Service would also create a new website to provide taxpayers with additional, in-depth information on how their tax dollars are being used.
An example of the receipt that would be provided to taxpayers under this bill can be accessed online at Johnson website at http://www.Johnson.Senate.gov.
“The current debate in Washington is about the federal government’s spending priorities, and the tough choices that have to be made. The Taxpayer Receipt Act will allow people to see where the federal government currently spends its money, and outline the choices Congress and the President face,” said Johnson.
The Taxpayer Receipt Act also has the support of Senator Bill Nelson (D-FL), Senator Scott Brown (R-MA) and Senator Lisa Murkowski (R-AK).