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.
Impact
The amendment proposed in SB5159 could significantly alter the way lawmakers approach budgetary planning and analysis. By mandating that citizens can see the potential costs of bills they may not even be aware of, advocates of the bill argue that it promotes accountability and informed decision-making among both legislators and the public. This change could lead to a greater emphasis on fiscal responsibility as politicians may be more mindful of how their actions directly impact their constituents' wallets.
Summary
SB5159 aims to amend the Congressional Budget and Impoundment Control Act of 1974 by requiring any cost estimates provided by the Congressional Budget Office (CBO) for legislation to include a breakdown of costs per citizen. This legislation is intended to enhance transparency regarding how federal spending and debt affect individual taxpayers. By incorporating these estimates into the CBO's reports, the bill aims to provide a clearer picture of the financial implications of proposed legislative measures for the average American citizen.
Contention
Despite the benefits outlined by supporters, the bill could face opposition from those who argue that breaking down costs per citizen may oversimplify complex budgetary issues. Critics might contend that this approach could lead to confusion or misinterpretation among the public regarding government spending and fiscal policy. Additionally, there are concerns that such a requirement may burden the CBO with increased workloads, thereby possibly delaying budget analyses and legislative processes.
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.
Budgetary Accuracy in Scoring Interest Costs Act of 2023 or the BASIC Act This bill requires cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include the costs of servicing the public debt.
Providing for consideration of the bill (H.R. 4) to rescind certain budget authority proposed to be rescinded in special messages transmitted to the Congress by the President on June 3, 2025, in accordance with section 1012(a) of the Congressional Budget and Impoundment Control Act of 1974, and for other purposes.
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.
Establishing the congressional budget for the United States Government for fiscal year 2025 and setting forth the appropriate budgetary levels for fiscal years 2026 through 2034.
Relating to consideration of the Senate amendment to the bill (H.R. 4) to rescind certain budget authority proposed to be rescinded in special messages transmitted to the Congress by the President on June 3, 2025, in accordance with section 1012(a) of the Congressional Budget and Impoundment Control Act of 1974.
A concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2025 and setting forth the appropriate budgetary levels for fiscal years 2026 through 2034.
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.