Sean Patrick Maloney: “H.R. 1962, the Presidential and Executive Office Financial Accountability Act, as amended, would require the appointment…”

“H.R. 1962, the Presidential and Executive Office Financial Accountability Act, as amended, would require the appointment of a chief financial officer in the Executive Office of the President. The Chief Financial Officers Act of 1990 was landmark legislation which brought needed improvements to the executive branch by requiring sound financial management practices, automated financial systems, and annual reports to Congress. This law has resulted in substantial savings, probably billions of dollars, by eliminating waste, fraud, and abuse in the 24 major agencies in the executive branch. Putting a chief financial officer in the Executive Office of the President is an improvement, and one which the White House supports.”