STEP Act

This bill requires federal agencies to do more to prevent improper payments, which are payments the government made by mistake or in the wrong amount. It says that new programs expected to spend over $100 million must be flagged as likely to have payment errors during their first few years, and agencies must estimate how much money is being paid out incorrectly. The bill also lets agencies use methods approved by their own chief financial officer to estimate these errors, instead of only using methods approved by a central budget office. Agencies would have to include reports on improper payments in their financial statements and report to Congress for 10 years on their progress in managing fraud risks and improving financial controls.

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