Total Score: 1,150/2,100 points (54.8% of maximum possible score)
The Fiscal Responsibility Act of 2023 focuses on reducing government spending and addressing the national debt. While it aims to curtail excessive spending and improve fiscal responsibility, it also imposes significant mandates and expands government oversight in certain areas.
| Criteria | Score (out of 100) | Comments |
|---|---|---|
| 1. Regulatory Language and New Powers | 60 | Introduces new regulatory measures to enforce fiscal responsibility. |
| 2. Mandates on Individuals or Businesses | 70 | Imposes significant mandates on businesses to comply with new fiscal regulations. |
| 3. Repeal or Modification of Existing Laws | 40 | Modifies existing laws to enhance fiscal oversight. |
| 4. Funding Provisions and Government Control | 50 | Allocates funds for implementing fiscal control measures. |
| 5. Powers Granted to Government Agencies | 65 | Grants agencies discretionary powers to enforce new fiscal policies. |
| 6. Penalties and Compliance Mechanisms | 80 | Specifies strict penalties for non-compliance with fiscal regulations. |
| 7. Reporting Requirements | 75 | Introduces extensive reporting requirements for government and private entities. |
| 8. Sunset Clauses | 30 | Includes sunset clauses for certain fiscal measures. |
| 9. Authority and Oversight | 70 | Delegates authority to federal agencies to oversee fiscal responsibility measures. |
| 10. Judicial Review | 50 | Provides provisions for judicial review of fiscal regulations. |
| 11. Emergency Powers | 40 | Grants emergency powers for rapid fiscal adjustments. |
| 12. Exemptions and Waivers | 30 | Offers limited exemptions from new fiscal regulations. |
| 13. Impact Assessments | 60 | Includes assessments of the expected fiscal impact. |
| 14. Spending and Taxes | 80 | Aims to reduce government spending and control taxes. |
| 15. Market Manipulation | 30 | Minimal impact on market manipulation. |
| 16. Tax Code and Reporting | 50 | Modifies tax code to enhance fiscal reporting. |
| 17. Areas Outside Original Purpose | 25 | Mostly stays within the purpose of fiscal responsibility. |
| 18. Reducing Government Power | 60 | Aims to reduce government spending and control, though increases oversight. |
| 19. Impact on Free Markets | 40 | Some impact on free markets through fiscal regulations. |
| 20. Personal Freedom | 45 | Minor impact on personal freedoms through fiscal compliance requirements. |
| 21. Reducing Spending and Debt | 90 | Significantly focuses on reducing spending and national debt. |