Govwatch

Introduced

In Committee

3

Passed One Chamber

4

Passed Both

5

Signed into Law

Sponsor

Michael Cloud

Republican · TX · Representative

Votes with party: 89.2% (545 recorded votes)

Full profile: /officials/C001115

Source: Congress.gov · FEC

Cosponsors (20)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

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 concerned.

2025-02-05

Source: Congress.gov

Plain-English Summary

This bill would improve how Congress estimates the costs of proposed legislation, making the budget forecasting process more accurate and transparent for lawmakers and the public. The changes would likely affect how the Congressional Budget Office analyzes spending and revenue impacts of new bills, helping Congress make better-informed decisions about government spending and taxes. The bill has been sent to the Rules and Budget committees for review.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Economics and Public Finance

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 991 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 991 To 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. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 5, 2025 Mr. Cloud (for himself, Mr. Meuser, Mr. Case, Mr. McClintock, Mr. Golden of Maine, Ms. Perez, Mr. Grothman, Mr. McCormick, Mr. Norman, Mr. Rouzer, Mr. Huizenga, Mr. Weber of Texas, Mr. Obernolte, Mr. Edwards, and Mr. Collins) 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 concerned _______________________________________________________________________ A BILL To 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Cost Estimates Improvement Act''. SEC. 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: ``estimates to include debt servicing costs ``Sec. 403. Any estimate prepared by the Director of 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.''. <all>

Open clean-text view Read on Congress.gov →

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