A bill to require the Congressional Budget Office and the Joint Committee on Taxation to use dynamic economic modeling in addition to static economic modeling in the preparation of budgetary estimates of proposed changes in Federal revenue law.

Summary

Expresses the sense of the Congress that it is necessary to ensure that the Congress is presented with reliable information from the Congressional Budget Office (CBO) and the Joint Committee on Taxation as to the dynamic macroeconomic feedback effects to changes in Federal law and the probable behavioral responses of taxpayers, businesses, and other parties to such changes. Requires the Joint Committee and CBO to prepare fiscal estimates of each proposed change in Federal revenue law on the basis of assumptions that estimate the probable behavioral responses of personal and business taxpayers and other relevant entities to such change and its dynamic macroeconomic feedback effects. Applies such requirement only to proposed changes that, pursuant to static fiscal estimates, have a fiscal impact exceeding $275 million in any fiscal year.

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Timeline

1. 20 March 2003

   Introduced

   Read twice and referred jointly to the Committees on the Budget; Governmental Affairs pursuant to the order of August 4, 1977, with instructions that if one Committee reports, the other Committee have thirty days to report or be discharged. (text of measure as introduced: CR S4172-4173)

   Source: IntroReferral

2. 20 March 2003

   Introduced

   Sponsor introductory remarks on measure. (CR S4172)

   Source: IntroReferral

3. 20 March 2003

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 20 June 2003

   Referred

   Committee on Governmental Affairs referred to Subcommittee on Financial Management, the Budget, and International Security.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Referral Instructions Senate · 20 March 2003 · Download file

Documents

3 official files

• Referral Instructions Senate (text)

  Referral Instructions Senate · EN · 20 March 2003

  ViewDownloadOpen at official source

• Referral Instructions Senate (PDF)

  Referral Instructions Senate · EN · 20 March 2003

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 20 March 2003

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Ensign, John [R-NV] · R · Sponsor
• Sen. Sessions, Jeff [R-AL] · R · Sponsor
• Sen. Crapo, Mike [R-ID] · R · Sponsor
• Sen. Kyl, Jon [R-AZ] · R · Sponsor
• · ssga00 · Standing
• · ssbu00 · Standing

Related records

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