Budgetary Accuracy in Scoring Interest Costs Act of 2016

Bill: 114-s-3539
Sponsor: full_name: Sen. Daines, Steve [R-MT]
Introduced: 2016-12-09
Policy area: Economics and Public Finance
Latest action: action_date: 2016-12-09
text: Read twice and referred to the Committee on the Budget. (Sponsor introductory remarks on measure: CR S7033-7034; text of measure as introduced: CR S7034)

Summaries:
action_date: 2016-12-09
action_desc: Introduced in Senate
text: <p><b>Budgetary Accuracy in Scoring Interest Costs Act of 2016</b></p> <p>This bill amends the Congressional Budget and Impoundment Control Act of 1974 to require any cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include debt servicing costs. </p>

tv_txt: II 114th CONGRESS 2d Session S. 3539 IN THE SENATE OF THE UNITED STATES December 9, 2016 Mr. Daines (for himself, Mr. Perdue , and Mr. Lee ) introduced the following bill; which was read twice and referred to the Committee on the Budget 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.

1. Short title This Act may be cited as the Budgetary Accuracy in Scoring Interest Costs Act of 2016 . 2. CBO and JCT estimates to include debt servicing costs (a) In general Title IV of the Congressional Budget and Impoundment Control Act of 1974 ( 2 U.S.C. 651 et seq. ) is amended by inserting after section 402 the following: 403. Estimates to include debt servicing costs Any estimate prepared by 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 debt subject to limit under section 3101 of title 31, United States Code. . (b) Clerical amendment The table of contents of such Act is amended by inserting after the item relating to section 402 the following: 403. Estimates to include debt servicing costs. .