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 Congress that it is necessary to ensure that 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, using among other methods dynamic estimating techniques, 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 $250 million in any fiscal year.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 4 January 2007

   Introduced

   Read twice and referred to the Committee on the Budget.

   Source: IntroReferral

2. 4 January 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 9 January 2007

   Floor

   Star Print ordered on the bill.

   Source: Floor

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 4 January 2007 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 4 January 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 4 January 2007

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 4 January 2007

  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. Crapo, Mike [R-ID] · R · Sponsor
• Sen. Sessions, Jeff [R-AL] · R · Cosponsor
• · ssbu00 · Standing

Related records

• related to → 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.