The federal government’s funding schedule would be changed to align with the calendar year under bipartisan legislation introduced on Sept. 26 by U.S. Rep. Mike Turner (R-OH).
“With the threat of a government shutdown once again, Congress should modify the funding schedule of the federal government, which repeatedly puts the operations of the federal government and our national security at risk,” Rep. Turner said. “The current government funding scheme, if not fulfilled, would shut down operations of all non-essential government employees, which puts our security and services all Americans use at risk.”
“Changing the fiscal calendar to align with the calendar year would allow Congress more time to ensure all government funding continues uninterrupted with the proper funding amounts,” added the congressman.
Rep. Turner sponsored the It’s About Time Act, H.R. 5613, alongside lead original cosponsor U.S. Rep. Jerrold Nadler (D-NY) to change the calendar period of the federal fiscal year.
When the United States Congress was founded, the fiscal year aligned with the calendar year and there was no distinction between fiscal year and calendar year prior to 1842.
In 1842, Congress voted to change the federal fiscal year to start on July 1.
In 1974, Congress approved a second change to the federal fiscal year, changing the first day of the fiscal year to Oct. 1.
“Since Congress shifted the start of the fiscal year to October in 1974, only four times have we completed all appropriations bills on time, the last nearly three decades ago,” Rep. Nadler said. “By aligning the federal fiscal year with the calendar year, Congress can have the time it needs to responsibly review the president’s budget and enact spending bills. This reform will reduce the risk of shutdowns, strengthen fiscal accountability, and improve the way we govern.”
H.R. 5613 has been referred for consideration to both the U.S. House Budget Committee and the U.S. House Oversight and Government Reform Committee.