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.
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.
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.
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.
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.