H.R.2498 - Budget Integrity Act114th Congress (2015-2016)
|Sponsor:||Rep. Carney, John C., Jr. [D-DE-At Large] (Introduced 05/21/2015)|
|Committees:||House - Rules; Budget|
|Latest Action:||House - 05/21/2015 Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (All Actions)|
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Summary: H.R.2498 — 114th Congress (2015-2016)All Information (Except Text)
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.