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Cost Estimates Improvement Act
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.
Summary
This bill amends the Congressional Budget Act of 1974 to require cost estimates from the Congressional Budget Office and the Joint Committee on Taxation to include the costs of servicing the public debt. Currently, budget estimates may not include these debt servicing costs in their calculations. The change applies to all estimates prepared by the CBO Director and JCT, to the extent it is practicable to do so.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
20 cosponsors
- Rep. Begich, Nicholas J. [R-AK-At Large] (R-AK)
- Rep. Carter, Earl L. "Buddy" [R-GA-1] (R-GA)
- Rep. Case, Ed [D-HI-1] (D-HI)
- Rep. Cline, Ben [R-VA-6] (R-VA)
- Rep. Collins, Mike [R-GA-10] (R-GA)
- Rep. Davidson, Warren [R-OH-8] (R-OH)
- Rep. Edwards, Chuck [R-NC-11] (R-NC)
- Rep. Golden, Jared F. [D-ME-2] (D-ME)
- Rep. Grothman, Glenn [R-WI-6] (R-WI)
- Rep. Huizenga, Bill [R-MI-4] (R-MI)
- Rep. McClintock, Tom [R-CA-5] (R-CA)
- Rep. McCormick, Richard [R-GA-7] (R-GA)
- Rep. Meuser, Daniel [R-PA-9] (R-PA)
- Rep. Moore, Blake D. [R-UT-1] (R-UT)
- Rep. Moore, Tim [R-NC-14] (R-NC)
- Rep. Norman, Ralph [R-SC-5] (R-SC)
- Rep. Obernolte, Jay [R-CA-23] (R-CA)
- Rep. Perez, Marie Gluesenkamp [D-WA-3] (D-WA)
- Rep. Rouzer, David [R-NC-7] (R-NC)
- Rep. Weber, Randy K. Sr. [R-TX-14] (R-TX)
Money behind the sponsor
Top reported contributors to Michael Cloud’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $165,527
- SAULSBURY INDUSTRIES $9,900
- ULINE $6,600
- MAGIC INDUSTRIES INC $6,600
- REPCON INC. $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Michael Cloud → · Outside spending →
Actions (2)
- Feb 5, 2025 Referred 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 jurisdiction of the committee concerned. · house
- Feb 5, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
February 5, 2025
Mr. Cloud (for himself, Mr. Meuser, Mr. Case, Mr. McClintock, Mr. Golden of Maine, Ms. Perez, Mr. Grothman, Mr. McCormick, Mr. Norman, Mr. Rouzer, Mr. Huizenga, Mr. Weber of Texas, Mr. Obernolte, Mr. Edwards, and Mr. Collins) introduced the following bill; which was referred 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 jurisdiction 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 Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Cost Estimates Improvement Act”.
SEC. 2. CBO AND JCT ESTIMATES TO INCLUDE DEBT SERVICING COSTS.
(a) In General.—The Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 621 et seq.) is amended by inserting after section 402 the following:
“estimates to include debt servicing costs
“Sec. 403. Any estimate prepared by the Director of the Congressional Budget Office under section 402, and any estimate prepared by the Joint Committee on Taxation, shall include, to the extent practicable, the costs (if any) of servicing the public debt.”.
(b) Clerical Amendment.—The table of contents of such Act is amended by inserting after the item relating to section 402 the following:
“403. Estimates to include debt servicing costs.”. <all>
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