Section 1 Short title
This Act may be cited as the “Budget Transparency Act”.
Budget Transparency Act
A BILL
To amend section 1106 of title 31, United States Code, to require the President to submit to Congress additional updated economic projections before July 16 of each year.
Sec. 2 Submission of additional updated economic projections
Section 1106(a)(1) of title 31, United States Code, is amended by striking “and” at the end of subparagraph (C), by inserting “and” at the end of subparagraph (D), and by inserting after subparagraph (D) the following:
“(E) updated economic projections, including projections for the Federal budget deficit, unemployment rate, changes to the gross domestic product (GDP), the consumer price index (CPI), and interest rates, and a justification for any differences in such economic projections of the Office of Management and Budget and the Congressional Budget Office;”