Rokita: To Make Responsible Budgets, Congress Needs Long-Term Analysis

Press Release

Representative Todd Rokita released the following statement following the passage of the Pro-Growth Budgeting Act, a bill he cosponsored that requires the Congressional Budget Office (CBO) to provide lawmakers with macroeconomic impact analysis for all major legislation:

"In order to make responsible, and realistic, economic and budgetary decisions, Congress needs access to greater analysis of the long-term impact of major legislation. This bill will give Congress a dynamic assessment of how any major bill will impact our budget and economy in the long run. It will better inform our decisions as we work to pay down the debt that threatens the American dream for the children of tomorrow," said Rokita.

The Pro-Growth Budget Act requires CBO to prepare for each major bill or resolution, a macroeconomic impact analysis of the budgetary effects of such legislation for the 10-year window, along with the three 10-year windows after that (a 40-year look). The bill defines a major bill as one that is estimated to be greater than .25 percent of Gross Domestic Product (GDP). The analysis must describe the potential economic impact on major economic variables, including real GDP, business investment, the capital stock, employment, interest rates, and labor supply.

Earlier in the week, Rep. Todd Rokita joined with fellow members of the House Budget Committee in introducing a budget resolution for Fiscal Year 2015 that balances the nation's budget, makes responsible reforms to strengthen safety net programs, creates jobs and grows the economy. On Wednesday, Rokita participated in the committee's legislative markup of the bill.

For the third year in a row, the House budget includes Medicaid reforms advanced by Rokita that would strengthen the program by giving increased flexibility to states.

In addition to his work on the FY2015 budget resolution, Rokita introduced the State Health Flexibility Act in the 112th and 113th Congress, which would reform the Medicaid program by block-granting the federal share of Medicaid funding to states, providing increased flexibility in the delivery of Medicaid services. Rokita has been joined on the bill by 50 cosponsors.

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