Description:
As ordered reported by the House Committee on the Budget on June 19, 2013.
H.R. 1874 would require the Congressional Budget Office to provide a macroeconomic impact analysis for bills that are estimated to have a large budgetary effect.
Under H.R. 1874, CBO would be required to provide—to the extent practicable—an analysis of the impact on the economy of any bill that would have an estimated budgetary effect of greater than 0.25 percent of gross domestic product (GDP) in any fiscal year. (Currently, that threshold would be about $40 billion, based on GDP of about $16 trillion.) The macroeconomic analysis would include the estimated effect on revenues and outlays of a change in GDP resulting from the legislation being evaluated. The bill also would require CBO to publicly provide the assumptions and models underlying those analyses.
CBO estimates that implementing H.R. 1874 would cost about $2 million over the 2014-2018 period, assuming appropriation of the necessary amounts. Enacting H.R. 1874 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.
H.R. 1874 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.
