Summary: H.R.2498 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.2498. Bill summaries are authored by CRS.

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Introduced in House (05/21/2015)

Budget Integrity Act

This bill amends the Congressional Budget Act of 1974 to require the Congressional Budget Office (CBO) to prepare long-term cost estimates for reported legislation with a gross budgetary impact of at least 0.25% of gross domestic product in either of the next two 10-year periods.

The bill also creates a point of order against considering legislation in the House or the Senate that would cause a net increase in on-budget deficits above $5 billion in either of the two periods.

The CBO and the Office of Management and Budget must issue long-term budget projections that cover 40 years. The Government Accountability Office must report on the effects of long-term debt.

The bill amends the Rules of the House of Representatives to deem the House to have passed any necessary changes to the statutory debt limit upon adoption of the budget resolution.