Cost Estimates Improvement Act

The "Cost Estimates Improvement Act" proposes to amend the Congressional Budget Act of 1974, aiming to enhance the transparency and comprehensiveness of legislative cost assessments. Its primary provision mandates that both the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) must incorporate the costs of servicing the public debt into their financial estimates for proposed legislation. This requirement applies to all estimates prepared by these bodies, ensuring a more holistic view of a bill's fiscal impact.

By explicitly including these debt servicing costs, the bill seeks to provide Congress and the public with a more accurate and complete understanding of the financial implications of new laws. The amendment specifies that these costs should be included "to the extent practicable," allowing for flexibility while emphasizing the importance of this financial component in fiscal projections.