Fair-Value Accounting and Budget Act
Official title: To amend the Congressional Budget and Impoundment Control Act of 1974 to provide for fair-value credit estimates, and for other purposes.
| Date | Chamber | What was voted on | Result | Yes–No | |
|---|---|---|---|---|---|
| Mar 26, 2009 | Senate · vote #115 | On Passage of the Bill H.R. 1388 | Passed | 79–19 | See who voted → |
| Mar 23, 2009 | Senate · vote #108 | On Cloture on the Motion to Proceed H.R. 1388 | Agreed To | 74–14 | See who voted → |
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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.
Fair-Value Accounting and Budget Act
This bill requires the Congressional Budget Office (CBO) to provide certain fair-value estimates of federal loan and loan guarantee programs. Under the bill, the fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair-value estimates generally use private-market interest rates to estimate the cost of a loan program rather than rates based on Treasury securities.
The bill requires CBO to include fair-value estimates in (1) any estimate prepared for a measure that establishes or modifies a loan or loan guarantee program, and (2) its publication titled The Budget and Economic Outlook. If CBO provides a fair-value estimate pursuant to this bill, the chairs of the congressional budget committees must use the estimate to determine compliance with budget enforcement requirements.
The bill also requires the Office of Management and Budget to submit an annual report to Congress on fair-value estimates of the costs of federal credit programs.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 1388: Fair-Value Accounting and Budget Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-1388/
"H.R. 1388: Fair-Value Accounting and Budget Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-1388/.
H.R. 1388, 119th Cong. (2026), https://openamerica.io/bill/119-HR-1388/.
[H.R. 1388: Fair-Value Accounting and Budget Act](https://openamerica.io/bill/119-HR-1388/)