H.R.2860 - Honesty in Budgeting Act of 2005109th Congress (2005-2006)
|Sponsor:||Rep. Smith, Adam [D-WA-9] (Introduced 06/09/2005)|
|Committees:||House - Budget; Ways and Means|
|Latest Action:||House - 06/15/2005 Referred to the Subcommittee on Health. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2860 — 109th Congress (2005-2006)All Information (Except Text)
Introduced in House (06/09/2005)
Honesty in Budgeting Act of 2005 - Expresses the sense of the House of Representatives that Members of Congress, executive branch officials, and their respective representatives should use on-budget numbers when making public statements regarding the federal budget.
Prohibits receipts and disbursements of the Federal Old-Age and Survivors, Disability, and Hospital Insurance Trust Funds from being counted as new budget authority, outlays, receipts, deficit, or surplus for purposes of the President's budget, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).
Amends the Congressional Budget Act of 1974 to require official statements issued by the Office of Management and Budget or the Congressional Budget Office of federal surplus or deficit totals to exclude the receipts and disbursements totals of the Old-Age, Survivors and Disability Insurance (OASDI) program and Federal Hospital Insurance Trust Fund.