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HR 4856 111th Congress House Economics and Public Finance Accounting and auditing Budget deficits and national debt Budget process Congressional oversight

Forecast for the Future Act of 2010

Introduced: March 16, 2010 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 16, 2010
Referred to House Rules
Mar 16, 2010
Referred to the Committee on the Budget, and in addition to the Committee on Rules, 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.
Mar 16, 2010
Referred to House Budget
Mar 16, 2010
Introduced in House
 Plain-English summary Congressional Research Service

Forecast for the Future Act of 2010 - Requires the President's budget to Congress to include a detailed, separate analysis and display, by budget function, agency, and program, of the net present value of future costs of each entitlement program for the fiscal year for which the budget is submitted and each of the four ensuing fiscal years.

Amends the Congressional Budget Act of 1974 (CBA) to require concurrent budget resolutions to include, for display purposes only and for each entitlement program, the net present value of the future costs of the program over a 75-year time frame.

Directs the congressional budget committees to hold hearings in each Congress with a goal of developing a plan to restore the government to a sustainable long-term fiscal path.

Requires the Director of the Office of Management and Budget (OMB) to submit to the President and Congress a report listing: (1) the fiscal exposures of the government; and (2) the net present value of the future costs of the program over a 75-year time frame.

Amends the CBA to require the Director of the Congressional Budget Office (CBO) to submit a similar report to Congress.

What's happening now March 16, 2010

Referred to House Rules

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 3