Section 1 Short title
This Act may be cited as the “Budgetary Accuracy in Scoring Interest Costs Act of 2017” or the “BASIC Act”.
Budgetary Accuracy in Scoring Interest Costs Act of 2017
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, and for other purposes.
Sec. 2 CBO and JCT estimates to include debt servicing costs
In general— The Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 621 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 public debt.”
Clerical amendment— The table of contents of such Act is amended by inserting after the item relating to section 402 the following: