3.0.0 200 2023-01-11T13:28:51Z 2023-01-11T13:28:51Z Senate S 2015-01-21 114 ssbu00 Budget Committee Senate Standing Referred to 2015-01-21T16:12:18Z 2015-01-21 ssbu00 Budget Committee Senate Read twice and referred to the Committee on the Budget. IntroReferral 2015-01-21 Introduced in Senate IntroReferral 10000 9 Library of Congress P000449 Sen. Portman, Rob [R-OH] Rob Portman R OH N A000368 Sen. Ayotte, Kelly [R-NH] Kelly Ayotte R NH 2015-01-21 True B001261 Sen. Barrasso, John [R-WY] John Barrasso R WY 2015-01-21 True B000575 Sen. Blunt, Roy [R-MO] Roy Blunt R MO 2015-01-21 True C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2015-01-21 True C000880 Sen. Crapo, Mike [R-ID] Mike Crapo R ID 2015-01-21 True F000463 Sen. Fischer, Deb [R-NE] Deb Fischer R NE 2015-01-21 True F000444 Sen. Flake, Jeff [R-AZ] JEFF FLAKE R AZ 2015-01-21 True I000024 Sen. Inhofe, James M. [R-OK] Jim Inhofe R OK 2015-01-21 True I000055 Sen. Isakson, Johnny [R-GA] Johnny Isakson R GA 2015-01-21 True L000577 Sen. Lee, Mike [R-UT] Mike Lee R UT 2015-01-21 True R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL 2015-01-21 True T000250 Sen. Thune, John [R-SD] John Thune R SD R. 2015-01-21 True V000127 Sen. Vitter, David [R-LA] David Vitter R LA 2015-01-21 True S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2015-01-21 True P000612 Sen. Perdue, David [R-GA] David Perdue R GA Alfred 2015-01-26 False C001095 Sen. Cotton, Tom [R-AR] Tom Cotton R AR 2015-02-25 False Economics and Public Finance Budget process Congressional oversight Economic performance and conditions Legislative rules and procedure Economics and Public Finance 00 2015-01-21 Introduced in Senate 2015-05-15T17:47:07Z 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.

]]> Accurate Budgeting Act Display Title Accurate Budgeting Act Official Title as Introduced A bill to amend the Congressional Budget Act of 1974 to provide for macroeconomic analysis of the impact of major revenue legislation. Introduced in Senate IS Short Titles as Introduced Accurate Budgeting Act Introduced in Senate 2015-01-21T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s200is/xml/BILLS-114s200is.xml 2015-01-21 Read twice and referred to the Committee on the Budget. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.