Rep. Brat Introduces the Cost Estimates Reform Act
U.S. Congressman Dave Brat (R-Va.), a member of the House Budget Committee, released the following statement this week after introducing H.R. 3804, the Cost Estimates Reform Act:
“The Congressional Budget Office and the Joint Committee on Taxation should be commended for the high-quality, non-partisan analysis they provide. Their cost and revenue estimates are an indispensable part of my process for reviewing legislation.
“I’ve noticed, however, that most estimates are incomplete: they don’t include the costs of debt service. This matters when legislation increases spending or reduces revenue—creating new debt—in the near-term while spreading out offsets over the entire budget window or concentrating them towards the end.
“I have introduced the Cost Estimates Reform Act to include the costs of added debt in CBO and JCT analysis so Members of Congress have more accurate estimates to help make their decisions.”
The full text of the bill can be viewed here and below.