To amend the Congressional Budget Act of 1974 to require that the Director of the Congressional Budget Office and the Joint Committee on Taxation utilize dynamic scoring for provisions of bills or joint resolutions that reduce rates of taxation.
Amends the Congressional Budget Act of 1974 to require the Director of the Congressional Budget Office or the Joint Committee on Taxation, in making estimates for any bill or joint resolution that reduces any rate of Federal taxation, to base the estimate of the effect of such rate reduction on a dynamic estimate of the changes in Federal revenues expected to result from enactment of the tax rate provisions of the legislation.
Defines "dynamic estimate" as a projection based in any part on assumptions concerning probable effects of macroeconomic feedback.
Referred to the Committee on the Budget, and in addition to the Committee on Ways and Means, 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.