As ordered reported by the House Committee on the Budget on May 16, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
0
0
0
Revenues
0
0
0
Increase or Decrease (-) in the Deficit
0
0
0
Spending Subject to Appropriation (Outlays)
0
*
not estimated
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
No
Statutory pay-as-you-go procedures apply?
No
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
No
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
* = between zero and $500,000.
Summary
H.R. 8341 would amend the Congressional Budget Act of 1974 to require the Congressional Budget Office and the staff of the Joint Committee on Taxation (JCT) to add debt-service costs to cost estimates for authorization legislation that has been ordered reported—that is, approved—by a full committee. Debt-service costs reflect the change in interest payments on the federal debt that would result from an estimated net increase or decrease in budget deficits or from other effects on federal borrowing that would occur if the legislation was enacted.
Based on the average number of cost estimates each year (between 100 and 120) that would be affected by that requirement, CBO and JCT expect that they would expend few additional resources to provide such information. As a result, CBO estimates that implementing the bill would have no significant cost over the 2024-2029 period. Any related spending would be subject to the availability of appropriated funds.
