1. Short title
This Act may be cited as the “Cost Estimates Improvement Act”.
Cost Estimates Improvement Act
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.
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 406 the following:
“407. Estimates to include debt servicing costs and a list of duplicative activities
“(a) Cost of debt service—Any estimate prepared by the Director of 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.
“(b) List of duplicative activities—Any estimate prepared by the Director of the Congressional Budget Office or the Joint Committee on Taxation shall include a list of any Federal agencies, programs, and initiatives with fragmented, overlapping, or duplicative goals or activities covered by the legislation.”
Clerical amendment— The table of contents of such Act is amended by inserting after the item relating to section 402 the following: