About HR9716

Increasing Baseline Updates Act

Policy Area: Economics and Public Finance

Sponsor: Rep. Moore, Blake D. [R-UT-1] (R-UT)

Latest Action (2024-12-12): Received in the Senate and Read twice and referred to the Committee on the Budget.

Summary

Increasing Baseline Updates ActThis bill requires the Congressional Budget Office (CBO) to submit to Congress at least two updates to its annual baseline. At least one of the updates must include the economic data used by CBO to calculate the update. (A baseline is a projection of federal spending and receipts during a fiscal year under current law. Under current law, CBO is required to publish the baseline by February 15 of each year. While there is no statutory requirement for specific updates, CBO generally provides an update with its analysis of the President's annual budget request. It has also provided some updates during the summer, depending on the timing of the President's budget request.)The bill also requires the President to submit technical budget data to Congress on or before February 1 of each year. Currently, federal agencies provide the data to Congress as part of the President's budget request.

Subjects: Budget deficits and national debt, Congressional oversight, Congressional-executive branch relations

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