I 

113TH CONGRESS 

1ST SESSION H. R. 1874 

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 

A BILL 

To amend the Congressional Budget Act of 1974 to provide 

for macroeconomic analysis of the impact of legislation. 

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’’. 


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1 SEC. 2. MACROECONOMIC IMPACT ANALYSES. 

2 (a) IN GENERAL.—Part A of title IV of the Congres3 sional Budget Act of 1974 is amended by adding at the 

4 end the following new section: 

5 ‘‘MACROECONOMIC IMPACT ANALYSIS OF MAJOR

6 LEGISLATION

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

8 The Congressional Budget Office shall, to the extent prac9 ticable, prepare for each major bill or resolution reported 

10 by any committee of the House of Representatives or the 

11 Senate (except the Committee on Appropriations of each 

12 House), as a supplement to estimates prepared under sec13 tion 402, a macroeconomic impact analysis of the budg14 etary effects of such bill or resolution for the ten fiscal15 year period beginning with the first fiscal year for which 

16 an estimate was prepared under section 402 and each of 

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

18 be predicated upon the supplemental projection described 

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

20 committee the macroeconomic impact analysis, together 

21 with the basis for the analysis. As a supplement to esti22 mates prepared under section 402, all such information 

23 so submitted shall be included in the report accompanying 

24 such bill or resolution. 

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

26 under subsection (a) shall describe the potential economic 


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1 impact of the applicable major bill or resolution on major 

2 economic variables, including real gross domestic product, 

3 business investment, the capital stock, employment, inter4 est rates, and labor supply. The analysis shall also de5 scribe the potential fiscal effects of the bill or resolution, 

6 including any estimates of revenue increases or decreases 

7 resulting from changes in gross domestic product. To the 

8 extent practicable, the analysis should use a variety of eco9 nomic models in order to reflect the full range of possible 

10 economic outcomes resulting from the bill or resolution. 

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

12 specify the economic and econometric models used, sources 

13 of data, relevant data transformations, and shall include 

14 such explanation as is necessary to make the models com15 prehensible to academic and public policy analysts. 

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

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

18 means— 

19 ‘‘(A) an estimate of the changes in eco20 nomic output, employment, interest rates, cap21 ital stock, and tax revenues expected to result 

22 from enactment of the proposal; 

23 ‘‘(B) an estimate of revenue feedback ex24 pected to result from enactment of the proposal; 

25 and 


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1 ‘‘(C) a statement identifying the critical 

2 assumptions and the source of data underlying 

3 that estimate; 

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

5 any bill or resolution if the gross budgetary effects 

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

7 period for which an estimate is prepared under sec8 tion 402 is estimated to be greater than .25 percent 

9 of the current projected gross domestic product of 

10 the United States for any such fiscal year; 

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

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

13 revenues, outlays, deficits, and debt resulting from 

14 that measure; and 

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

16 in revenue resulting from changes in economic 

17 growth as the result of the enactment of any major 

18 bill or resolution.’’. 

19 (b) CONFORMING AMENDMENT.—The table of con20 tents set forth in section 1(b) of the Congressional Budget 

21 Act of 1974 is amended by inserting after the item relat22 ing to section 406 the following new item: 

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

Æ 


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