H.R.3578 - Baseline Reform Act of 2011

To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to reform the budget baseline. view all titles (4)

All Bill Titles

  • Official: To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to reform the budget baseline. as introduced.
  • Short: Baseline Reform Act of 2011 as introduced.
  • Short: Baseline Reform Act of 2012 as reported to house.
  • Short: Baseline Reform Act of 2012 as passed house.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 1
  • Past Seven Days: 1
  • All-Time: 2,188
 
Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
12/07/11
 
02/03/12
 
 
 
 
 

Sponsor

Representative

Rob Woodall

R-GA

View Co-Sponsors (22)
 

Latest Vote

Result: Passed - February 03, 2012

Roll call number 32 in the House

Question: On Passage: H R 3578 To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to reform the budget baseline

 

Official Summary

Baseline Reform Act of 2012 - (Sec. 2) Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to revise the formula for establishing the budget baseline. Revises the annual baseline, for any fiscal year, to mean a projection of current-year levels o

Official Summary

Baseline Reform Act of 2012 -

(Sec. 2)

Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to revise the formula for establishing the budget baseline. Revises the annual baseline, for any fiscal year, to mean a projection of current-year levels of new budget authority (as under current law), outlays (as under current law), or receipts (instead of revenues) and the surplus or deficit (as under current law) for the current year, the budget year, and the ensuing nine outyears based on laws enacted through the applicable date. Includes estimates for direct spending in the baseline calculation formula for the budget year and each outyear. Revises the formula for calculating the baseline for discretionary spending for the budget year and each outyear to eliminate adjustments for:
(1) expiring multiyear subsidized housing contracts;
(2) administrative expenses of the Federal Hospital Insurance Trust Fund, the Supplementary Medical Insurance Trust Fund, the Unemployment Trust Fund, and the Railroad Retirement account;
(3) offsets to federal employees' annual pay; and
(4) certain inflators used to adjust budgetary resources in the Act.

(Sec. 3)

Amends the Congressional Budget Act of 1974 to require the Director of the Congressional Budget Office (CBO), after the President's budget submission and in addition to the baseline projections, to report a supplemental projection to the congressional budget committees, assuming extension of current tax policy for the fiscal year commencing on October 1 of that year, with a supplemental projection for the 10-fiscal year period beginning with that fiscal year, again assuming the extension of current tax policy. Defines \"current tax policy\" as the tax policy in statute as of December 31 of the current year, assuming:
(1) the budgetary effects of measures extending the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003;
(2) the continued application of the alternative minimum tax (AMT) as in effect for taxable years beginning in 2011, with a specified assumption for taxable years beginning after 2011; and
(3) the budgetary effects of extending the estate, gift, and generation-skipping transfer tax provisions of title III of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Requires CBO to report to such committees, on or before July 1 of each year, the Long-Term Budget Outlook for:
(1) the fiscal year commencing on October 1 of that year, and
(2) at least the ensuing 40 fiscal years.

...Read the Rest




Vote on This Bill

33% Users Support Bill

1 in favor / 2 opposed
 

Send Your Rep a Letter

about this bill Support Oppose Tracking
Track with MyOC