H.R. 4361 · 115th Congress
Accurate Budgeting Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
MesserSponsorNo cosponsors.
This bill amends the Congressional Budget Act of 1974 to require the Joint Committee on Taxation to incorporate a macroeconomic impact analysis in estimates of the budgetary effects of major revenue legislation to the extent that it is practicable.
What it does: CRS summary · Introduced in House · Nov 9, 2017
Accurate Budgeting Act
This bill amends the Congressional Budget Act of 1974 to require the Joint Committee on Taxation to incorporate a macroeconomic impact analysis in estimates of the budgetary effects of major revenue legislation to the extent that it is practicable.
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 also amends the Statutory Pay-As-You-Go Act of 2010 (PAYGO) to require estimates of the budgetary effects of major revenue legislation prepared for purposes of PAYGO requirements to incorporate a macroeconomic impact analysis to the extent that it is practicable.
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 (Nov 9, 2017): Referred to the Committee on the Budget, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Economics and Public Finance · Origin: House · Introduced: Nov 9, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.