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.
Latest action · Jan 6, 2009 Read twice and referred to the Committee on the Budget.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 6, 2009
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 7
Members who signed on, in the order they did. Signatures ran from Jan 6, 2009 to Jan 26, 2009, with 4 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-OK | James M. Inhofe | Original | Jan 6, 2009 |
| R-GA | Johnny Isakson | Original | Jan 6, 2009 |
| R-FL | Mel Martinez | Original | Jan 6, 2009 |
| R-ID | Mike Crapo | Original | Jan 6, 2009 |
| R-SC | Jim DeMint | Jan 8, 2009 | |
| R-MS | Roger F. Wicker | Jan 15, 2009 | |
| R-UT | Robert F. Bennett | Jan 26, 2009 |
Actions 2
Everything that happened, newest first.
- Jan 6, 2009Introduced in Senate
- Jan 6, 2009Read twice and referred to the Committee on the Budget.
Subjects
Assigned by the Library of Congress. Policy area: Economics and Public Finance.
Text 1
Each version as it was printed, newest first.
- Jan 6, 2009Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.