Cost Estimates Improvement Act

Subjects: Economics and Public Finance, Budget deficits and national debt, Budget process

Summary:  <p><b>Cost Estimates Improvement Act</b></p> <p>This bill requires cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include (1) the cost of servicing the public debt; and (2) a list of any federal agencies, programs, and initiatives with fragmented, overlapping, or duplicative goals or activities covered by the legislation.</p>

<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 311 Introduced in House (IH)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
                                H. R. 311

   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

                            January 12, 2023

    Mr. Cloud (for himself, Mr. Biggs, Mr. Donalds, Mr. Duncan, Mr. 
  LaMalfa, Mr. McClintock, Mr. Norman, Mr. Perry, Mr. Westerman, Mr. 
  Palmer, Mr. Bishop of North Carolina, Mr. Baird, and Mr. Carter of 
   Georgia) 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 406 the following:

 ``estimates to include debt servicing costs and a list of duplicative 
                               activities

    ``Sec. 407.  (a) Cost of Debt Service.--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) List of Duplicative Activities.--Any estimate prepared by the 
Director of the Congressional Budget Office or the Joint Committee on 
Taxation shall include a list of any Federal agencies, programs, and 
initiatives with fragmented, overlapping, or duplicative goals or 
activities covered by the legislation.''.
    (b) Clerical Amendment.--The table of contents of such Act is 
amended by inserting after the item relating to section 402 the 
following:

``407. Estimates to include debt servicing costs and a list of 
                            duplicative activities.''.
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