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To require the use of macroeconomic analysis in estimating the budgetary effects of major revenue legislation.

USA115th CongressHR-4361| House 
| Updated: 11/9/2017
Luke Messer

Luke Messer

Republican Representative

Indiana

Ways and Means Committee, Budget Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Nov 9, 2017
Introduced in House
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.
  • November 9, 2017
    Introduced in House


  • November 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.

Economics and Public Finance

Budget processCongressional oversightEconomic performance and conditionsLegislative rules and procedure

To require the use of macroeconomic analysis in estimating the budgetary effects of major revenue legislation.

USA115th CongressHR-4361| House 
| Updated: 11/9/2017
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Nov 9, 2017
Introduced in House
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.
  • November 9, 2017
    Introduced in House


  • November 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.
Luke Messer

Luke Messer

Republican Representative

Indiana

Ways and Means Committee, Budget Committee

Economics and Public Finance

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Budget processCongressional oversightEconomic performance and conditionsLegislative rules and procedure