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H.R. 8341, Cost Estimates Improvement Act (CBO Report for Congress)

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Congress 118th
Date Requested May 16, 2024
Requested By House Committee on the Budget on
Date Sent June 13, 2024
Description:
H.R. 8341 would amend the Congressional Budget Act of 1974 to require the Congressional Budget Office and the staff of the Joint Committee on Taxation (JCT) to add debt-service costs to cost estimates for authorization legislation that has been ordered reported—that is, approved—by a full committee. Debt-service costs reflect the change in interest payments on the federal debt that would result from an estimated net increase or decrease in budget deficits or from other effects on federal borrowing that would occur if the legislation was enacted. Based on the average number of cost estimates each year (between 100 and 120) that would be affected by that requirement, CBO and JCT expect that they would expend few additional resources to provide such information. As a result, CBO estimates that implementing the bill would have no significant cost over the 2024-2029 period. Any related spending would be subject to the availability of appropriated funds.

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