Sponsors (21)
The bill improves budget transparency by adding debt‑service estimates to CBO/JCT analyses, at the cost of extra analytic work for agencies and the risk that uncertain interest projections could be over‑interpreted in policymaking.
Taxpayers, policymakers, and oversight staff will get more complete and transparent budget information because CBO and JCT estimates will, where practicable, show the debt‑service (interest) costs tied to proposals, improving fiscal oversight and decisionmaking.
Taxpayers and lawmakers may treat uncertain debt‑service estimates as definitive, leading to mis‑weighted policy choices or misguided budget decisions based on imperfect interest projections.
CBO and JCT staff will face an increased analytical burden and potential need for more resources, which could slow report turnaround times or raise administrative costs.
Based on analysis of 2 sections of legislative text.
Requires CBO and JCT estimates to include, when practicable, the costs of servicing the public debt.
Requires the Congressional Budget Office and the Joint Committee on Taxation to include, when practicable, the costs of servicing the public debt in any official cost or revenue estimates they prepare. It adds a short title and inserts a new statutory provision into the Congressional Budget and Impoundment Control Act to make this reporting requirement explicit.
Official title: 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.
Introduced February 5, 2025 by Michael Cloud · Last progress February 5, 2025