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Union Calendar No. 116 

113TH CONGRESS 

1ST SESSION H. R. 1874 

[Report No. 113–161, Part I] 

To amend the Congressional Budget Act of 1974 to provide for 

macroeconomic analysis of the impact of legislation. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 8, 2013 

Mr. PRICE of Georgia (for himself, Mr. RYAN of Wisconsin, Mrs. BLACK, Mr. 

CHAFFETZ, Mr. COLLINS of Georgia, Mr. COTTON, Mr. GARRETT, Mr. 

GOSAR, Mr. GRAVES of Georgia, Mr. HENSARLING, Mr. JOHNSON of 

Ohio, Mr. MARCHANT, Mr. MULVANEY, Mr. RADEL, Mr. REED, Mr. 

RIBBLE, Mr. ROSS, Mr. SCALISE, Mr. AUSTIN SCOTT of Georgia, Mr. 

WESTMORELAND, Mr. WILSON of South Carolina, Mr. WOODALL, Mr. 

JORDAN, Mr. BARR, Mr. TERRY, Mr. FRANKS of Arizona, Mr. BISHOP

of Utah, Mr. PITTENGER, Mr. YODER, and Mr. FORTENBERRY) introduced the following bill; which was referred to the Committee on the 

Budget, and in addition to the Committee on Rules, 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 

JULY 19, 2013 

Additional sponsors: Mr. NUGENT, Mr. PAULSEN, Mr. BUCSHON, Mr. KLINE, 

Mr. TIBERI, Mr. PEARCE, Mr. KINGSTON, Mr. FORBES, Mr. MCCLINTOCK, Mrs. HARTZLER, Mr. HURT, Mr. MESSER, Mr. ROKITA, Mr. 

HUIZENGA of Michigan, Mr. HARPER, Mr. YOUNG of Indiana, Mr. 

SCHOCK, Mr. MEADOWS, Mr. BARLETTA, and Mr. KINZINGER of Illinois 

JULY 19, 2013 

Reported from the Committee on the Budget with amendments 

[Omit the part struck through and insert the part printed in italic] 

JULY 19, 2013 

The Committee on Rules discharged; committed to the Committee of the 

Whole House on the State of the Union and ordered to be printed 


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•HR 1874 RH

A BILL 

To amend the Congressional Budget Act of 1974 to provide 

for macroeconomic analysis of the impact of legislation. 


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•HR 1874 RH

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Pro-Growth Budgeting 

5 Act of 2013’’. 

6 SEC. 2. MACROECONOMIC IMPACT ANALYSES. 

7 (a) IN GENERAL.—Part A of title IV of the Congres8 sional Budget Act of 1974 is amended by adding at the 

9 end the following new section: 

10 ‘‘MACROECONOMIC IMPACT ANALYSIS OF MAJOR

11 LEGISLATION

12 ‘‘SEC. 407. (a) CONGRESSIONAL BUDGET OFFICE.— 

13 The Congressional Budget Office shall, to the extent prac14 ticable, prepare for each major bill or resolution reported 

15 by any committee of the House of Representatives or the 

16 Senate (except the Committee on Appropriations of each 

17 House), as a supplement to estimates prepared under sec18 tion 402, a macroeconomic impact analysis of the budg19 etary effects of such bill or resolution for the ten fiscal20 year period beginning with the first fiscal year for which 

21 an estimate was prepared under section 402 and each of 

22 the next three ten fiscal-year periods. Such estimate shall 

23 be predicated upon the supplemental projection described 

24 in section 202(e)(4). The Director shall submit to such 

25 committee the macroeconomic impact analysis, together 

26 with the basis for the analysis. As a supplement to estiVerDate Mar 15 2010 21:29 Jul 19, 2013 Jkt 029200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H1874.RH H1874

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1 mates prepared under section 402, all such information 

2 so submitted shall be included in the report accompanying 

3 such bill or resolution. 

4 ‘‘(b) ECONOMIC IMPACT.—The analysis prepared 

5 under subsection (a) shall describe the potential economic 

6 impact of the applicable major bill or resolution on major 

7 economic variables, including real gross domestic product, 

8 business investment, the capital stock, employment, inter9 est rates, and labor supply. The analysis shall also de10 scribe the potential fiscal effects of the bill or resolution, 

11 including any estimates of revenue increases or decreases 

12 resulting from changes in gross domestic product. To the 

13 extent practicable, the analysis should use a variety of eco14 nomic models in order to reflect the full range of possible 

15 economic outcomes resulting from the bill or resolution. 

16 The analysis (or a technical appendix to the analysis) shall 

17 specify the economic and econometric models used, sources 

18 of data, relevant data transformations, and shall include 

19 such explanation as is necessary to make the models com20 prehensible to academic and public policy analysts. 

21 ‘‘(c) DEFINITIONS.—As used in this section— 

22 ‘‘(1) the term ‘macroeconomic impact analysis’ 

23 means— 

24 ‘‘(A) an estimate of the changes in eco25 nomic output, employment, interest rates, capVerDate Mar 15 2010 21:29 Jul 19, 2013 Jkt 029200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H1874.RH H1874

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1 ital stock, and tax revenues expected to result 

2 from enactment of the proposal; 

3 ‘‘(B) an estimate of revenue feedback ex4 pected to result from enactment of the proposal; 

5 and 

6 ‘‘(C) a statement identifying the critical 

7 assumptions and the source of data underlying 

8 that estimate; 

9 ‘‘(2) the term ‘major bill or resolution’ means 

10 any bill or resolution if the gross budgetary effects 

11 of such bill or resolution for any fiscal year in the 

12 period for which an estimate is prepared under sec13 tion 402 is estimated to be greater than .25 percent 

14 of the current projected gross domestic product of 

15 the United States for any such fiscal year; 

16 ‘‘(3) the term ‘budgetary effect’, when applied 

17 to a major bill or resolution, means the changes in 

18 revenues, outlays, deficits, and debt resulting from 

19 that measure; and 

20 ‘‘(4) the term ‘revenue feedback’ means changes 

21 in revenue resulting from changes in economic 

22 growth as the result of the enactment of any major 

23 bill or resolution.’’. 

24 (b) CONFORMING AMENDMENT.—The table of con25 tents set forth in section 1(b) of the Congressional Budget 


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1 Act of 1974 Congressional Budget and Impoundment Con2 trol Act of 1974 is amended by inserting after the item 

3 relating to section 406 the following new item: 

‘‘Sec. 407. Macroeconomic impact analysis of major legislation.’’. 


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emcdonald on DSK67QTVN1PROD with BILLS
Union Calendar No. 116 

113TH CONGRESS 

1ST SESSION H. R. 1874 

[Report No. 113–161, Part I] 

A BILL 

To amend the Congressional Budget Act of 1974 to 

of legislation. provide for macroeconomic analysis of the impact 

JULY 19, 2013 

Reported from the Committee on the Budget with 

amendments 

JULY 19, 2013 

The Committee on Rules discharged; committed to the 

Union and ordered to be printed Committee of the Whole House on the State of the 


emcdonald on DSK67QTVN1PROD with BILLS