Bill
Bill > HR3979
summary
Introduced
07/25/2019
07/25/2019
In Committee
07/25/2019
07/25/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Congressional Budget Act of 1974 to provide that any estimate prepared by the Congressional Budget Office or the Joint Committee on Taxation shall include costs relating to servicing the public debt, and for other purposes. 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.
AI Summary
This bill, the Budgetary Accuracy in Scoring Interest Costs Act of 2019 (BASIC Act), amends the Congressional Budget Act of 1974 to require the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) to include the costs of servicing the public debt in their cost estimates. This means that when the CBO or JCT prepares an estimate for a bill or proposal, they must also account for the additional interest costs that the government would incur as a result of changes to the federal debt.
Sponsors (9)
Dan Meuser (R)*,
Ed Case (D),
Kevin Hern (R),
Ben McAdams (D),
Dean Phillips (D),
Chip Roy (R),
Chris Stewart (R),
Mark Walker (R),
Steve Womack (R),
Last Action
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. (on 07/25/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/3979/all-info | 07/26/2019 |
| BillText | https://www.congress.gov/116/bills/hr3979/BILLS-116hr3979ih.pdf | 08/14/2019 |
| Bill | https://www.congress.gov/116/bills/hr3979/BILLS-116hr3979ih.pdf.pdf | 08/14/2019 |
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