House Bill 362 - BASIC Act

Purpose and Summary

Chamber: House

Introduced date: 2023-01-13

Recent Activity

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.

Alternative Names

BASIC Act

BASIC Act

Budgetary Accuracy in Scoring Interest Costs Act of 2023

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.

Associated Legislation

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Policy Areas

Economics and Public Finance

Potential Impact

Budget deficits and national debt

Budget process

Sponsors and Supporters

Rep. Meuser, Daniel [R-PA-9]

Cosponsors and Supporters

Rep. Crenshaw, Dan [R-TX-2]

Rep. Steil, Bryan [R-WI-1]

Rep. Case, Ed [D-HI-1]

Rep. LaLota, Nick [R-NY-1]

Committees and Subcommittees

Budget Committee

Rules Committee

Variations and Revisions

BASIC Act

12/15/2023, 3:53 PM

Budgetary Accuracy in Scoring Interest Costs Act of 2023 or the BASIC Act

This bill requires cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include the costs of servicing the public ...

Congress
118
Number
HR - 362
Introduced on
2023-01-13
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

1/13/2023
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Budgetary Accuracy in Scoring Interest Costs Act of 2023 or the BASIC Act

This bill requires cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include the costs of servicing the public ...

Alternative Names
Official Title as IntroducedTo 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.
Policy Areas
Economics and Public Finance
Potential Impact
Budget deficits and national debt•
Budget process

Comments

Recent Activity

Latest Summary1/27/2023

Budgetary Accuracy in Scoring Interest Costs Act of 2023 or the BASIC Act

This bill requires cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include the costs of servicing the public ...

Latest Action1/13/2023
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 concerne...