Long-Term Studies of Comprehensive Outcomes and Returns for the Economy Act (Long-Term SCORE Act)

To amend the Congressional Budget Act of 1974 to require that the Congressional Budget Office prepare long-term scoring estimates for reported bills and joint resolutions that could have significant economic and fiscal effects outside of the normal scoring periods. 1. Short title This Act may be cited as the Long-Term Studies of Comprehensive Outcomes and Returns for the Economy Act Long-Term SCORE Act 2. Findings and Purpose (a) Findings Congress finds the following: (1) The Centers for Disease Control and Prevention estimates that 133 million Americans live with at least one chronic condition. (2) More than three of every four health care dollars spent in the United States derive from the care of chronic medical conditions. (3) Such conditions include diabetes, cardiovascular disease, cancer, obesity, arthritis, and Alzheimers. (4) Reports from the Trust for America’s Health, the Campaign to End Obesity, and other organizations demonstrate that Federal policies which lead to reductions in the prevalence of one or more chronic diseases may save United States taxpayers as much as $611 billion over the next 20 years, and more in years beyond that time window. (5) The Congressional Budget Office, which estimates the cost of Federal policies, typically provides Congress with budgetary impact analyses for a five- or ten-year period. (6) Longer-term budgetary impacts fall beyond the traditional Congressional Budget Office budget window and therefore are not captured in Congressional determinations of policies that reflect strategic investments in chronic disease prevention and treatment, and similar long-term policies. (7) The Congressional Budget Office has produced some long-term budget analysis, assessing the budgetary impact of certain programs for a period of as much as 75 years. (8) The Congressional Budget Office presently lacks adequate resources to conduct more regular long-term economic analyses. (9) Congress and taxpayers will benefit from having such analyses more regularly available to steward Federal dollars into the most effective policies and programs, particularly those that will generate long-term budgetary savings. (b) Purpose The purpose of this Act is to require that the Congressional Budget Office prepare long-term scoring estimates for reported bills and joint resolutions that could have significant economic and fiscal effects outside of the normal scoring periods. 3. Establishment of Assistant Director for Long-Term Budget Scoring Paragraph (1) of section 201(a) of the Congressional Budget Act of 1974 is amended by inserting (A) (1) (B) There is established within the Office a long-term budget scoring division which shall be headed by an assistant director who shall report directly to the Director. . 4. Long-term cost analyses of legislation by CBO Section 402 of the Congressional Budget Act of 1974 is amended by inserting (a) sec. 402 (b) Long-Term cost estimates Whenever the Director of the Congressional Budget Office prepares an analysis of the costs of a bill or resolution under subsection (a), and upon the request of any Member of the House of Representatives or the Senate, the Director shall prepare and submit to such committee the information requested under paragraphs (1), (2), and (3) of subsection (a), except that such information shall be for, if practicable, at least each of the next four ten fiscal-year periods beginning with the first fiscal year after the last fiscal year for which an analysis was prepared under subsection (a). . 5. Authorization of appropriations for long-term cost estimating Section 201(g) of the Congressional Budget Act of 1974 is amended by striking the second sentence and inserting the following new sentence: In addition to such sums as may otherwise be appropriated to the Office, there are authorized to be appropriated to the Office for each fiscal year $5,000,000 to enable it to prepare the long-term cost estimates required by section 402(b).

Summary: Long-Term Studies of Comprehensive Outcomes and Returns for the Economy Act (Long-Term SCORE Act) This bill amends the Congressional Budget Act of 1974 to require the Congressional Budget Office (CBO) to prepare long-term cost estimates for legislation reported by congressional committees. It also establishes a long-term budget scoring division within CBO. The bill requires the long-term estimates to cover at least each of the next four ten-year periods. CBO currently provides cost estimates over a 5- or10-year period.