To amend the Congressional Budget Act of 1974 to provide for supplemental estimates of certain revenue bills or joint resolutions that incorporates the macroeconomic effects of that measure.

Bill: 113-hr-1475
Sponsor: full_name: Rep. Jenkins, Lynn [R-KS-2]
Introduced: 2013-04-10
Policy area: Congress
Subjects: Economic performance and conditions

Economic theory

General taxation matters

Government studies and investigations

Legislative rules and procedure
Latest action: action_date: 2013-04-10
text: 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.

Summaries:
action_date: 2013-04-10
action_desc: Introduced in House
text: <p>Amends the Congressional Budget Act of 1974 to require the Congressional Budget Office (CBO), whenever it transmits to a congressional committee any revenue estimates provided to it by the Joint Committee on Taxation for any bill or joint resolution to which this Act applies, also to transmit a revenue estimate incorporating the macroeconomic effects of the policy being analyzed. </p> <p>Requires a written statement to accompany any such macroeconomic impact statement which discloses fully the economic, technical, and behavioral assumptions made in producing the estimate.</p> <p>Applies this requirement to any bill or joint resolution: (1) that the Joint Committee determines has a revenue impact exceeding $5 billion in the fiscal year in which the measure becomes effective, or in any of the four ensuing fiscal years; or (2) for which the chair or ranking member of either congressional budget committee requests such an estimate.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 1475 IN THE HOUSE OF REPRESENTATIVES April 10, 2013 Ms. Jenkins 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 for supplemental estimates of certain revenue bills or joint resolutions that incorporates the macroeconomic effects of that measure.

1. Supplemental estimates of certain revenue bills or joint resolutions that incorporates the macroeconomic effects of that measure (a) In general Section 402 of the Congressional Budget Act of 1974 is amended by inserting (a) after 402. and by adding at the end the following new subsection : (b) (1) In the case of any bill or joint resolution to which this subsection applies, whenever the Congressional Budget Office transmits to any committee of the House of Representatives or the Senate any revenue estimates provided to it by the Joint Committee on Taxation, it shall also, to the extent practicable, transmit to that committee a revenue estimate that incorporates the macroeconomic effects of the policy being analyzed. Any macroeconomic impact statement under the preceding sentence shall be accompanied by a written statement fully disclosing the economic, technical, and behavioral assumptions that were made in producing such estimate. (2) Paragraph (1) shall apply to any bill or joint resolution— (A) which the Joint Committee on Taxation determines, pursuant to its estimate submitted to the Congressional Budget Office under section 202(f), has a revenue impact in excess of $5,000,000,000 in the fiscal year in which the bill or joint resolution is to become effective or in any of the 4 fiscal years following such fiscal year; or (B) with respect to which the chair or ranking member of the Committee on the Budget of either the Senate or the House of Representatives requests an estimate described in paragraph (1). . (b) Effective Date The amendment made by subsection (a) shall take effect 30 days after the date of enactment of this Act.