Bill
Bill > S2435
summary
Introduced
08/01/2019
08/01/2019
In Committee
08/01/2019
08/01/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill 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 or the 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, to the extent practicable. This means that CBO and JCT must account for the costs associated with paying interest on the national debt when preparing their analyses of the budgetary impact of proposed legislation.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Read twice and referred to the Committee on the Budget. (Sponsor introductory remarks on measure: CR S5315) (on 08/01/2019)
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/senate-bill/2435/all-info | 08/02/2019 |
| BillText | https://www.congress.gov/116/bills/s2435/BILLS-116s2435is.pdf | 08/18/2019 |
| Bill | https://www.congress.gov/116/bills/s2435/BILLS-116s2435is.pdf.pdf | 08/18/2019 |
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