Cost Estimates Improvement Act
- house
- senate
- president
Last progress February 5, 2025 (10 months ago)
Introduced on February 5, 2025 by Michael Cloud
Sponsors (19)
House Votes
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.
Senate Votes
Presidential Signature
AI Summary
This bill would change how Congress estimates the cost of new laws. It tells the Congressional Budget Office and the Joint Committee on Taxation to include the interest costs from adding to the national debt when they estimate a bill’s price. That means the “price tag” would reflect not just direct spending or tax changes, but also what it costs to borrow money to pay for them, giving a fuller picture of the true cost over time .
Key points:
- Who is affected: The Congressional Budget Office, the Joint Committee on Taxation, lawmakers, and the public who read these estimates.
- What changes: All official cost estimates must include the cost of servicing the public debt (interest payments) tied to a bill.
- When: This would apply going forward if the bill becomes law.