S 2371 · 113th Congress 2013–2015, ended

Accurate Budgeting Act

Introduced May 21, 2014 Originated Senate Sponsor Rob Portman R-OH

Fact sheet

Latest action · May 21, 2014 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.

  1. IntroducedMay 21, 2014
  2. Passed SenateNot reached
  3. Passed HouseNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Accurate Budgeting Act - Amends the Congressional Budget Act of 1974 to require the Joint Committee on Taxation to prepare for each major revenue bill or resolution, reported by specified congressional tax committees or considered on the floor of either chamber, as a supplement to Congressional Budget Office (CBO) cost estimates, a macroeconomic impact analysis of the budgetary effects of the legislation for: (1) the 10-fiscal year period beginning with the first fiscal year for which such estimate was prepared, and (2) each of the next three 10-fiscal year periods.

Defines "major revenue bill or resolution" as a bill, resolution, or conference report for which either:

  • the sum of the positive changes in revenues resulting from such measure (not including the impact of any timing shifts for the due date for estimated corporate income tax payments) for any fiscal year in the period for which a CBO cost estimate is prepared, or
  • the absolute value of the sum of the negative changes in revenues resulting from such measure,

is greater than 0.25% of the current projected U.S. gross domestic product (GDP) for that fiscal year.

Cosponsors 18

Members who signed on, in the order they did. Signatures ran from May 21, 2014 to Jun 3, 2014, with 17 there on the day it was introduced.

SeatCosponsorSigned on
R-LADavid VitterOriginalMay 21, 2014
R-NEDeb FischerOriginalMay 21, 2014
R-OKJames M. InhofeOriginalMay 21, 2014
R-AZJeff FlakeOriginalMay 21, 2014
R-WYJohn BarrassoOriginalMay 21, 2014
R-SDJohn ThuneOriginalMay 21, 2014
R-NHKelly AyotteOriginalMay 21, 2014
R-SCLindsey GrahamOriginalMay 21, 2014
R-FLMarco RubioOriginalMay 21, 2014
R-ILMark KirkOriginalMay 21, 2014
R-NEMike JohannsOriginalMay 21, 2014
R-IDMike CrapoOriginalMay 21, 2014
R-UTMike LeeOriginalMay 21, 2014
R-NCRichard BurrOriginalMay 21, 2014
R-MORoy BluntOriginalMay 21, 2014
Show all 18 cosponsors

Actions 2

Everything that happened, newest first.

  1. May 21, 2014Introduced in Senate
  2. May 21, 2014Read twice and referred to the Committee on the Budget.

Related bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
HR 1874Pro-Growth Budgeting Act of 2014Related billApr 7, 2014

Subjects

Assigned by the Library of Congress. Policy area: Economics and Public Finance.

Text 1

Each version as it was printed, newest first.

  1. May 21, 2014Introduced in Senate

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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.