S. 200 · 114th Congress
Accurate Budgeting Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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PortmanSponsor16 cosponsors · 16 R
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Ayotte
RB
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Blunt
JB
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Barrasso
MC
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Crapo
SC
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Capito
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Flake
DF
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Fischer
JI
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Inhofe
JI
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Isakson
ML
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Lee
MR
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Rubio
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Scott
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Thune
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Vitter
DP
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Perdue
TC
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Cotton14 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Congressional Budget Act of 1974 to require the Joint Committee on Taxation (JCT) to prepare a macroeconomic impact analysis for major revenue legislation. The estimates are required for revenue legislation considered on the floor of the House or Senate or reported by the House Ways and Means Committee or the Senate Finance Committee.
What it does: CRS summary · Introduced in Senate · Jan 21, 2015
Accurate Budgeting Act
This bill amends the Congressional Budget Act of 1974 to require the Joint Committee on Taxation (JCT) to prepare a macroeconomic impact analysis for major revenue legislation. The estimates are required for revenue legislation considered on the floor of the House or Senate or reported by the House Ways and Means Committee or the Senate Finance Committee.
The macroeconomic impact analysis, commonly referred to as dynamic scoring, includes:
- the changes in economic output, employment, interest rates, capital stock, and tax revenues expected to result from the proposal;
- revenue feedback (changes in revenue resulting from changes in economic growth as a result of the proposal); and
- the assumptions and data used for the estimate.
The bill requires JCT to prepare the analysis as a supplement to the revenue estimates currently required by the Congressional Budget Act of 1974.
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 (Jan 21, 2015): Read twice and referred to the Committee on the Budget.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: Jan 21, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.