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Thursday, February 02, 2012

House Budget Committee Advances Common-Sense Budget Process Reforms

House Budget Committee Advances Common-Sense Budget Process Reforms

Chairman Ryan applauds effort to bring greater transparency and accountability to the budget process

January 24, 2012
WASHINGTON – The House Budget Committee advanced three legislative reforms today to address the broken budget process. The reforms focused on bringing greater accountability and transparency, and stronger protections for hardworking Americans’ tax dollars. While the House Budget Committee works to advance solutions, today marks 1,000 days without any budget from the U.S. Senate.

H.R. 3582 – The Pro-Growth Budgeting Act of 2012

This bill would require that for major legislation that CBO prepare an analysis of the effect that the legislation would have on the U.S. economy. This macroeconomic impact analysis would be supplemental information in addition to the official congressional cost estimate of the legislation.

H.R. 3578 – The Baseline Reform Act of 2012

Under current law the baseline assumes ever higher spending as discretionary accounts are annually increased by inflation and for a number of other factors. This legislation levels the playing field and removes this pro-spending bias.

H.R. 3581 – The Budget and Accounting Transparency Act of 2012

This bill increases transparency in federal budgeting by reforming the way certain costs are calculated and requiring that certain costs incurred by the Federal government are included in the budget.

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