This bill would change the Congressional Budget Act of 1974 so that any cost estimate made by the Congressional Budget Office (CBO) or the Joint Committee on Taxation (JCT) must include, when practicable, the costs of servicing the public debt. The bill adds a new section (403) to require those estimates to report debt-servicing costs and updates the Act's table of contents.
When CBO or JCT prepare cost estimates for Congress, they would be expected to include any costs tied to servicing the public debt, to the extent practicable. The text provided does not describe how or when those costs must be shown beyond adding the requirement.
No publicly available information on the bill’s fiscal impact is included in the provided text. The bill text does not include specific cost estimates or funding for implementing this requirement.
No publicly available information on proponents' arguments or detailed statements is included in the provided text. The bill was introduced to add debt-servicing costs to CBO and JCT estimates.
No publicly available information on opponents' arguments or detailed statements is included in the provided text.