118 HR 362 IH: Budgetary Accuracy in Scoring Interest Costs Act of 2023 U.S. House of Representatives 2023-01-13 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.

I118th CONGRESS1st SessionH. R. 362IN THE HOUSE OF REPRESENTATIVESJanuary 13, 2023Mr. Meuser (for himself, Mr. Crenshaw, and Mr. Steil) introduced the following bill; which was referred to the Committee on Rules, and in addition to the Committee on the Budget, 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 concernedA BILLTo amend the Congressional Budget Act of 1974 to provide that any estimate prepared by the Congressional Budget Office or the Joint Committee on Taxation shall include costs relating to servicing the public debt, and for other purposes.

1.

Short title

This Act may be cited as the Budgetary Accuracy in Scoring Interest Costs Act of 2023 or the BASIC Act.

2.

CBO and JCT estimates to include debt servicing costs

(a)

In general

The Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 621 et seq.) is amended by inserting after section 402 the following:

403.

Estimates To Include Debt Servicing Costs

Any estimate prepared by the Congressional Budget Office under section 402, and any estimate prepared by the Joint Committee on Taxation, shall include, to the extent practicable, the costs (if any) of servicing the public debt.

. (b)

Clerical amendment

The table of contents of such Act is amended by inserting after the item relating to section 402 the following: 403. Estimates to include debt servicing costs..