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119-s-5442119th CongressWALLET

Cost Estimates Improvement Act

Sponsored By: Senator Scott, Rick [R-FL]

Introduced

Summary

Include the costs of servicing the public debt in official budget estimates. This bill would require the Director of the Congressional Budget Office and the Joint Committee on Taxation to include, to the extent practicable, the costs of servicing the public debt in any estimates they prepare.

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  • Lawmakers: Estimates for bills and policy proposals could change because debt-service amounts would be added to official scores. That may alter how costs appear in scorecards and debates.
  • CBO and JCT: The requirement is written into the Budget Act and applies to CBO estimates under section 402 and to JCT estimates. The bill does not specify a method for calculating those debt-service costs.
  • Public and taxpayers: Official budget numbers could reflect debt servicing more consistently across major estimates, which could influence public discussion of policy costs.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Budget reports would include debt costs

This bill would require the Congressional Budget Office and the Joint Committee on Taxation to include, to the extent practicable, the costs (if any) of servicing the public debt in any estimates they prepare. It would apply to any estimate the CBO Director prepares under current scoring rules and to any estimate prepared by the Joint Committee on Taxation. The change would take effect upon enactment. It would not itself authorize new spending or specify a method for calculating those debt costs.

Sponsors & CoSponsors

Sponsor

Scott, Rick [R-FL]

FL • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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