H.R. 2967 · 113th Congress
INFORM Act
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SchockSponsor8 cosponsors · 2 D, 6 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Intergenerational Financial Obligations Reform Act or INFORM Act - Amends the Congressional Budget Act of 1974 to require the Congressional Budget Office (CBO) to provide certain information on any legislation or resolution considered in either chamber which would impact revenues or mandatory spending by greater than 0.5% of gross domestic product (GDP)…
What it does: CRS summary · Introduced in House · Aug 1, 2013
Intergenerational Financial Obligations Reform Act or INFORM Act - Amends the Congressional Budget Act of 1974 to require the Congressional Budget Office (CBO) to provide certain information on any legislation or resolution considered in either chamber which would impact revenues or mandatory spending by greater than 0.5% of gross domestic product (GDP) over the following 10-fiscal-year period, and upon request by the Chairmen or Ranking Members of the congressional budget committees.
Requires such information to comprise:
- a fiscal gap and generational accounting analysis, including any change in the analysis relative to the baseline; and
- the federal deficit, at current spending levels, in the fiscal year that is 75 years after the fiscal year in which the legislation is being considered, as well as the stock of the debt in that 75th year.
Requires: (1) CBO to produce an annual fiscal gap and generational accounting analysis within its annual "Long-Term Budget Outlook" and post it on the CBO public website, and (2) the Comptroller General to produce a separate similar analysis within its annual "Long-Term Fiscal Outlook" and post it on the General Accountability Office (GAO) public website.
Requires the President's budget submission to Congress to include:
- a fiscal gap and generational accounting analysis of the full budget proposal;
- the same kind of analysis of specific policy changes that would impact revenues or mandatory spending by greater than 0.5% of GDP over the following 10-fiscal year period; and
- the federal deficit, at current spending levels, in the fiscal year that is 75 years after the fiscal year in which the legislation is being considered, as well as the stock of the debt in that 75th year.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: INFORM Act
Also known as: Intergenerational Financial Obligations Reform Act
Latest action (Aug 1, 2013): Referred to the House Committee on the Budget.
Policy area: Economics and Public Finance · Origin: House · Introduced: Aug 1, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.