H.R.1874 - Pro-Growth Budgeting Act of 2014

To amend the Congressional Budget Act of 1974 to provide for macroeconomic analysis of the impact of legislation. view all titles (5)

All Bill Titles

  • Short: Pro-Growth Budgeting Act of 2014 as passed house.
  • Short: Pro-Growth Budgeting Act of 2013 as reported to house.
  • Official: To amend the Congressional Budget Act of 1974 to provide for macroeconomic analysis of the impact of legislation. as introduced.
  • Short: Pro-Growth Budgeting Act of 2013 as introduced.
  • Short: Pro-Growth Budgeting Act of 2013' as reported to house.

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Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
05/08/13
 
04/04/14
 
 
 
 
 

Sponsor

Representative

Tom Price

R-GA

View Co-Sponsors (49)
 

Latest Vote

Result: Passed - April 04, 2014

Roll call number 164 in the House

Question: On Passage: H R 1874 Pro-Growth Budgeting Act

 

Official Summary

Pro-Growth Budgeting Act of 2014 - Amends the Congressional Budget Act of 1974 (CBA) to require the Congressional Budget Office (CBO) to prepare for each major bill or resolution reported by any congressional committee (except the congressional appropriations committees), as a supplement to

Official Summary

Pro-Growth Budgeting Act of 2014 - Amends the Congressional Budget Act of 1974 (CBA) to require the Congressional Budget Office (CBO) to prepare for each major bill or resolution reported by any congressional committee (except the congressional appropriations committees), as a supplement to CBO cost estimates, a macroeconomic impact analysis of the budgetary effects of such legislation for the 10-fiscal year period beginning with the first fiscal year for which such estimate was prepared and each of the next three 10-fiscal year periods. Defines \"major bill or resolution\" as any bill or resolution whose budgetary effects, for any fiscal year in the period for which a CBO cost estimate is prepared, is estimated to be greater than .25% of the current projected U.S. gross domestic product (GDP) for that fiscal year. Requires the analysis to describe:
(1) the potential economic impact of the bill or resolution on major economic variables, including real GDP, business investment, the capital stock, employment, interest rates, and labor supply; and
(2) the potential fiscal effects of the measure, including any estimates of revenue increases or decreases resulting from changes in GDP. Requires the analysis (or a technical appendix to it) to specify the economic and econometric models used, sources of data, relevant data transformations, as well as any explanation necessary to make the models comprehensible to academic and public policy analysts. Requires the CBO, five fiscal years after the enactment of any major bill or joint resolution for which it prepared a macroeconomic impact analysis, to report to the congressional budget committees on the accuracy of the original analysis.

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