To amend the Congressional Budget and Impoundment Control Act of 1974 to provide that concurrent resolutions on the budget include the recommended ratio of the public debt to the estimated gross domestic product for each fiscal year covered by the resolution.

Bill: 116-hr-4071
Sponsor: full_name: Rep. Timmons, William R. IV [R-SC-4]
Introduced: 2019-07-25
Policy area: Economics and Public Finance
Subjects: Budget deficits and national debt

Budget process

Legislative rules and procedure
Latest action: action_date: 2019-07-25
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: 2019-07-25
action_desc: Introduced in House
text: <p>This bill requires congressional budget resolutions to include a recommended ratio of the public debt to the estimated gross domestic product. </p>

tv_txt: I 116th CONGRESS 1st Session H. R. 4071 IN THE HOUSE OF REPRESENTATIVES July 25, 2019 Mr. Timmons (for himself and Mr. Panetta ) 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 and Impoundment Control Act of 1974 to provide that concurrent resolutions on the budget include the recommended ratio of the public debt to the estimated gross domestic product for each fiscal year covered by the resolution.

1. Contents of concurrent resolutions Section 301(a) of the Congressional Budget Act of 1974 is amended by striking and at the end of paragraph (6), by striking the period and inserting ; and at the end of paragraph (7), and by adding after paragraph (7) the following: (8) the recommended ratio of the public debt to the estimated gross domestic product. . 2. Definition Section 3 of the Congressional Budget and Impoundment Control Act of 1974 is amended by adding at the end the following new paragraph: (12) The term gross domestic product means the gross domestic product of the United States, as determined by the Bureau of Economic Analysis of the Department of Commerce. .