Pro-Growth Budgeting Act

Pro-Growth Budgeting Act

This bill requires the Congressional Budget Office and the Joint Committee on Taxation to incorporate a macroeconomic impact analysis in their cost estimates for major legislation.

The macroeconomic impact analysis (commonly referred to as dynamic scoring) must include the budgetary effects of changes in economic output, employment, capital stock, and other macroeconomic variables resulting from the legislation.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4959 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 4959

 To amend the Congressional Budget and Impoundment Control Act of 1974 
          to provide for cost estimates of major legislation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 31, 2019

  Mr. Kevin Hern of Oklahoma (for himself, Mr. Banks, Mr. Norman, Mr. 
   Murphy of North Carolina, Mr. Kelly of Pennsylvania, Mr. Roy, Mr. 
 Meuser, Mr. Johnson of Louisiana, Mr. Gooden, Mr. Mullin, Mr. Womack, 
     Mr. Meadows, Mr. Upton, Mr. Davidson of Ohio, Mr. Jordan, Mr. 
  Reschenthaler, and Mr. Green of Tennessee) introduced the following 
bill; which was referred to the Committee on Rules, and in addition to 
the Committee on the Budget, for a period to be subsequently determined 
 by the Speaker, in each case for consideration of such provisions as 
        fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To amend the Congressional Budget and Impoundment Control Act of 1974 
          to provide for cost estimates of major legislation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Pro-Growth Budgeting Act''.

SEC. 2. ESTIMATES OF MAJOR LEGISLATION.

    (a) In General.--Part A of the Congressional Budget and Impoundment 
Control Act 1974 is amended by adding at the end the following new 
section:

                    ``estimates of major legislation

    ``Sec. 407.  (a) CBO Cost Estimates.--An estimate provided by the 
Congressional Budget Office under section 402 for any major legislation 
shall, to the extent practicable, incorporate the budgetary effects of 
changes in economic output, employment, capital stock, and other 
macroeconomic variables resulting from such legislation.
    ``(b) Joint Committee on Taxation Cost Estimates.--An estimate 
provided by the Joint Committee on Taxation to the Director of the 
Congressional Budget Office under section 201(f) for any major 
legislation shall, to the extent practicable, incorporate the budgetary 
effects of changes in economic output, employment, capital stock, and 
other macroeconomic variables resulting from such legislation.
    ``(c) Content of Estimates.--An estimate referred to in this 
section shall, to the extent practicable, include--
            ``(1) a qualitative assessment of the budgetary effects 
        (including macroeconomic variables described in subsections (a) 
        and (b)) of such legislation in the 20-fiscal year period 
        beginning after the last fiscal year of the most recently 
        agreed to concurrent resolution on the budget that set forth 
        appropriate levels required by section 301; and
            ``(2) an identification of the critical assumptions and the 
        source of data underlying that estimate.
    ``(d) Definitions.--As used in this section--
            ``(1) the term `major legislation' means any bill or joint 
        resolution--
                    ``(A) for which an estimate is required to be 
                prepared pursuant to section 402 and that causes a 
                gross budgetary effect (before incorporating 
                macroeconomic effects) in any fiscal year over the 
                years of the most recently agreed to concurrent 
                resolution on the budget equal to or greater than 0.25 
                percent of the current projected gross domestic product 
                of the United States for that fiscal year; or
                    ``(B) designated as such by the chair or ranking 
                member of the Committee on the Budget for all direct 
                spending legislation other than revenue legislation or 
                the Member who is chair or vice chair, as applicable, 
                of the Joint Committee on Taxation for revenue 
                legislation; and
            ``(2) the term `budgetary effects' means changes in 
        revenues, outlays, and deficits.''.
    (b) Clerical Amendment.--The table of contents set forth in section 
1(b) of the Congressional Budget and Impoundment Control Act of 1974 (2 
U.S.C. 621 note) is amended by inserting after the item relating to 
section 406 the following new item:

``407. Estimates of major legislation.''.
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