S 200
114th Congress
Senate
Economics and Public Finance
Budget process
Congressional oversight
Economic performance and conditions
Legislative rules and procedure
Accurate Budgeting Act
Introduced: January 21, 2015
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 21, 2015
Read twice and referred to the Committee on the Budget.
Jan 21, 2015
Introduced in Senate
Plain-English summary
Accurate Budgeting Act
This bill amends the Congressional Budget Act of 1974 to require the Joint Committee on Taxation (JCT) to prepare a macroeconomic impact analysis for major revenue legislation. The estimates are required for revenue legislation considered on the floor of the House or Senate or reported by the House Ways and Means Committee or the Senate Finance Committee.
The macroeconomic impact analysis, commonly referred to as dynamic scoring, includes:
- the changes in economic output, employment, interest rates, capital stock, and tax revenues expected to result from the proposal;
- revenue feedback (changes in revenue resulting from changes in economic growth as a result of the proposal); and
- the assumptions and data used for the estimate.
The bill requires JCT to prepare the analysis as a supplement to the revenue estimates currently required by the Congressional Budget Act of 1974.
What's happening now
Read twice and referred to the Committee on the Budget.
Committees of jurisdiction
1