S. 2371 · 113th Congress
Accurate Budgeting Act
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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.
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PortmanSponsor18 cosponsors · 18 R
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Ayotte
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Blunt
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Burr
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Barrasso
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Chambliss
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Crapo
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Flake
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Fischer
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Graham
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Inhofe
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Johanns
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Kirk
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Lee
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Rubio
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Scott
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Thune
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Vitter
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Isakson17 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Accurate Budgeting Act - Amends the Congressional Budget Act of 1974 to require the Joint Committee on Taxation to prepare for each major revenue bill or resolution, reported by specified congressional tax committees or considered on the floor of either chamber, as a supplement to Congressional Budget Office (CBO) cost estimates, a macroeconomic impact…
What it does: CRS summary · Introduced in Senate · May 21, 2014
Accurate Budgeting Act - Amends the Congressional Budget Act of 1974 to require the Joint Committee on Taxation to prepare for each major revenue bill or resolution, reported by specified congressional tax committees or considered on the floor of either chamber, as a supplement to Congressional Budget Office (CBO) cost estimates, a macroeconomic impact analysis of the budgetary effects of the legislation for: (1) the 10-fiscal year period beginning with the first fiscal year for which such estimate was prepared, and (2) each of the next three 10-fiscal year periods.
Defines "major revenue bill or resolution" as a bill, resolution, or conference report for which either:
- the sum of the positive changes in revenues resulting from such measure (not including the impact of any timing shifts for the due date for estimated corporate income tax payments) for any fiscal year in the period for which a CBO cost estimate is prepared, or
- the absolute value of the sum of the negative changes in revenues resulting from such measure,
is greater than 0.25% of the current projected U.S. gross domestic product (GDP) for that fiscal year.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Accurate Budgeting Act
Latest action (May 21, 2014): Read twice and referred to the Committee on the Budget.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: May 21, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.