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Major Legislation Will Require Economic Analysis Under New House Bill

Press Release

Date: April 4, 2014
Location: Washington, DC
Issues: Economy and Fiscal Government Budget and Spending

Today the House of Representatives passed a bill requiring a thorough analysis of economic effect for any major legislation. Congressman Kevin Cramer voted in favor and said it will require committee reports on major legislation to include a Congressional Budget Office (CBO) analysis of its impact on gross domestic product (GDP), business investment, employment, interest rates, labor supply, and capital stock.

"I have advocated dynamic scoring at the state level as well as the federal. When we are dealing with major changes to the federal government, it is important not only to know the cost to the taxpayer as we currently do with traditional static budget scoring, but also to know the impact on the ability of our economy to create jobs and promote investment," said Cramer.

The Pro-Growth Budgeting Act defines major legislation as having a budgetary effect of at least 0.25 percent of annual GDP in any year within the 10-year budget window. This equates to $43 billion for 2014. The CBO would be required to cover the entire 10-year budget period and the subsequent 30 years in its analysis.


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