Section 1 Short title
This Act may be cited as the “Budgetary Accuracy in Scoring Interest Costs Act of 2016”.
Budgetary Accuracy in Scoring Interest Costs Act of 2016
A BILL
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.
Sec. 2 CBO and JCT estimates to include debt servicing costs
In general— Title IV of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 651 et seq.) is amended by inserting after section 402 the following:
“403. Estimates to include debt servicing costs
“Any estimate prepared by the Congressional Budget Office under section 402, and any estimate prepared by the Joint Committee on Taxation, shall include, to the extent practicable, the costs (if any) of servicing the debt subject to limit under section 3101 of title 31, United States Code.”
Clerical amendment— The table of contents of such Act is amended by inserting after the item relating to section 402 the following: