Cost Estimates Improvement Act This bill requires cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include (1) the cost of servicing the public debt; and (2) a list of any federal agencies, programs, and initiatives with fragmented, overlapping, or duplicative goals or activities covered by the legislation.
To amend the Congressional Budget and Impoundment Control Act of 1974 to require any cost estimate for a bill or joint resolution prepared by the Congressional Budget Office to include the cost to each United States citizen for carrying out such measure, and for other purposes.
A bill to amend the Congressional Budget and Impoundment Control Act of 1974 to require any cost estimate for a bill or joint resolution prepared by the Congressional Budget Office to include the cost to each United States citizen for carrying out such measure, and for other purposes.
Stop Inflationary Spending Act This bill requires the Congressional Budget Office (CBO) to provide inflation projections for bills that Congress considers using the budget reconciliation process. Specifically, the CBO must estimate the impact on inflation that will occur from implementing each reconciliation bill, including the impact on inflation that will occur during each of the first five years after the enactment of the bill.
Cost Estimates Improvement Act
Cost Estimates Improvement Act
Article I Regulatory Budget Act This bill requires the establishment of a federal regulatory budget to limit the costs of federal regulations. It also establishes requirements for disclosing the projected costs of federal regulations and procedures for enforcing the regulatory budget.
Nickel Plan Act This bill modifies the federal budget process to establish and enforce new spending caps. The bill establishes an outlay cap (less net interest payments) for FY2024 of $5.953 trillion, less 5%. For each year from FY2025-FY2027, the outlay cap is 5% less than the previous year's outlay cap. For FY2028 and subsequent years, total outlays (including net interest payments) may not exceed 17.5% of the gross domestic product (GDP) for that year as estimated by the Office of Management and Budget (OMB). Beginning in FY2029, total projected outlays for any year may not be less than the total projected outlays for the preceding year. The OMB must enforce the spending caps using a sequester to eliminate any excess spending through automatic cuts. The bill eliminates the existing exemptions from sequestration. If the OMB projects a sequester, the congressional budget committees may report a resolution directing congressional committees to change existing law to achieve the spending reductions necessary to meet the outlay limits. The bill also establishes procedures for Congress to enforce the outlay caps established by this bill.
True Cost Act This bill requires the President's annual budget submission to Congress to include estimates of the cost per individual taxpayer for (1) the public debt, and (2) any projected budget deficit for a fiscal year.
Reduce Exacerbated Inflation Negatively Impacting the Nation Act This bill requires the Office of Management and Budget and the Council of Economic Advisers to provide an inflation estimate for each executive order that is projected to cause an annual gross budgetary effect of at least $1 billion. The estimate must determine whether the executive order will have no significant impact on inflation, a quantifiable inflationary impact on the Consumer Price Index, or a significant impact on inflation that cannot be quantified at the time the estimate is prepared. The requirement does not apply to executive orders that (1) provide for emergency assistance or relief at the request of any state or local government or an official of the government, or (2) are necessary for national security or the ratification or implementation of international treaty obligations.