H.R.4320 - To amend the Congressional Budget Act of 1974 to require long-term cost benefit analyses of introduced bills.112th Congress (2011-2012)
|Sponsor:||Rep. Fattah, Chaka [D-PA-2] (Introduced 03/29/2012)|
|Committees:||House - Rules; Budget|
|Latest Action:||03/29/2012 Referred to House Budget (All Actions)|
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Summary: H.R.4320 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (03/29/2012)
Reinvesting and Ensuring America's Ability to Lead Act of 2012 - Requires the Director of the Congressional Budget Office (CBO) to: (1) prepare a 10-year long-term cost benefit analysis for each public introduced bill or resolution that determines its impact on American global competitiveness; and (2) devise criteria to evaluate such competitiveness, including the measure's impact on job creation, economic growth, consumption, investments, and savings.
Requires the analysis to evaluate whether the legislation will positively or negatively impact America's economic ability to compete globally compared to member nations of the Group of Twenty, or G-20, which comprise 19 country members and the European Union (EU), accounting for 90% of global gross domestic product (GDP) and 80% of global trade.