Bill
Bill > HR8775
summary
Introduced
09/06/2022
09/06/2022
In Committee
09/06/2022
09/06/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th 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.
AI Summary
This bill, the Budgetary Accuracy in Scoring Interest Costs Act of 2022 or the BASIC Act, amends the Congressional Budget and Impoundment Control 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 estimates, to the extent practicable. This change aims to provide more accurate budgetary information by accounting for the costs associated with the federal government's debt obligations when evaluating the fiscal impact of legislation.
Sponsors (2)
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 09/06/2022)
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/117th-congress/house-bill/8775/all-info | 09/07/2022 |
| BillText | https://www.congress.gov/117/bills/hr8775/BILLS-117hr8775ih.pdf | 09/07/2022 |
| Bill | https://www.congress.gov/117/bills/hr8775/BILLS-117hr8775ih.pdf.pdf | 09/07/2022 |
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