Cost Estimates Improvement Act

I 117TH CONGRESS 1ST SESSION H. R. 638 To amend the Congressional Budget Act of 1974 to provide that any estimate prepared by the Congressional Budget Office or the Joint Committee on Taxation shall include costs relating to servicing the public debt, and for other purposes. IN THE HOUSE OF REPRESENTATIVES FEBRUARY 1, 2021 Mr. CLOUD (for himself, Mr. BIGGS, Mr. PERRY, Mr. MCCLINTOCK, Mr. BUDD, Mr. PALMER, Mr. BROOKS, Mr. DUNCAN, Mr. HIGGINS of Lou- isiana, Mrs. HINSON, Mr. LAMALFA, Mr. WILLIAMS of Texas, Mr. WRIGHT, Mrs. LESKO, Mr. ROY, Mr. DONALDS, Mr. BISHOP of North Carolina, Mr. BUCK, Mr. BERGMAN, Mr. HICE of Georgia, Mr. TAYLOR, and Mr. GOODEN of Texas) introduced the following bill; which was re- ferred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the juris- diction of the committee concerned A BILL To amend the Congressional Budget Act of 1974 to provide that any estimate prepared by the Congressional Budget Office or the Joint Committee on Taxation shall include costs relating to servicing the public debt, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 VerDate Sep 11 2014 23:46 Feb 20, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H638.IH H638 pbinns on DSKJLVW7X2PROD with BILLS 2 •HR 638 IH SECTION 1. SHORT TITLE. 1 This Act may be cited as the ‘‘Cost Estimates Im- 2 provement Act’’. 3 SEC. 2. CBO AND JCT ESTIMATES TO INCLUDE DEBT SERV- 4 ICING COSTS. 5 (a) IN GENERAL.—The Congressional Budget and 6 Impoundment Control Act of 1974 (2 U.S.C. 621 et seq.) 7 is amended by inserting after section 406 the following: 8 ‘‘ESTIMATES TO INCLUDE DEBT SERVICING COSTS AND A 9 LIST OF DUPLICATIVE ACTIVITIES 10 ‘‘SEC. 407. (a) COST OF DEBT SERVICE.—Any esti- 11 mate prepared by the Director of the Congressional Budg- 12 et Office under section 402, and any estimate prepared 13 by the Joint Committee on Taxation, shall include, to the 14 extent practicable, the costs (if any) of servicing the public 15 debt. 16 ‘‘(b) LIST OF DUPLICATIVE ACTIVITIES.—Any esti- 17 mate prepared by the Director of the Congressional Budg- 18 et Office or the Joint Committee on Taxation shall include 19 a list of any Federal agencies, programs, and initiatives 20 with fragmented, overlapping, or duplicative goals or ac- 21 tivities covered by the legislation.’’. 22 (b) CLERICAL AMENDMENT.—The table of contents 23 of such Act is amended by inserting after the item relating 24 to section 402 the following: 25 VerDate Sep 11 2014 23:46 Feb 20, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H638.IH H638 pbinns on DSKJLVW7X2PROD with BILLS 3 •HR 638 IH ‘‘407. Estimates to include debt servicing costs and a list of duplicative activi- ties.’’. Æ VerDate Sep 11 2014 23:46 Feb 20, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H638.IH H638 pbinns on DSKJLVW7X2PROD with BILLS