#aacth ,,congress  #b;d ,session  ,h4   
,r4 #ahgd  ,,an ,,act  ,to amend the    
,congressional ,budget ,act of #aigd to 
provide for macroeconomic analysis of   
the impact of legislation4  #a4 ,short  
title ,this ,act may be cited as the    
,pro-,growth ,budgeting ,act of #bjad4  
#b4 ,macroeconomic impact analyses  7a7 
,in general ,part ,a of title ,,iv of   
the ,congressional ,budget ,act of #aigd
 is amended by adding at the end the    
following new section3  #djg4           
,macroeconomic impact analysis of major 
legislation  7a7 ,congressional ,budget 
,office ,the ,congressional ,budget     
,office shall1 to the extent            
practicable1 prepare for each major bill
 or resolution reported by any committee
 of the ,house of ,representatives or   
the ,senate 7except the ,committee on   
,appropriations of each ,house71 as a   
supplement to estimates prepared under  
section #djb1 a macroeconomic impact    
analysis of the budgetary effects of    
such bill or resolution for the ten     

fiscal-year period beginning with the   
first fiscal year for which an estimate 
was prepared under section #djb and each
 of the next three ten fiscal-year      
periods4 ,the ,director shall submit to 
such committee the macroeconomic impact 
analysis1 together with the basis for   
the analysis4 ,as a supplement to       
estimates prepared under section #djb1  
all such information so submitted shall 
be included in the report accompanying  
such bill or resolution4  7b7 ,economic 
impact ,the analysis prepared under     
subsection 7a7 shall describe the       
potential economic impact of the        
applicable major bill or resolution on  
major economic variables1 including real
 gross domestic product1 business       
investment1 the capital stock1          
employment1 interest rates1 and labor   
supply4 ,the analysis shall also        
describe the potential fiscal effects of
 the bill or resolution1 including any  
estimates of revenue increases or       
decreases resulting from changes in     

gross domestic product4 ,to the extent  
practicable1 the analysis should use a  
variety of economic models in order to  
reflect the full range of possible      
economic outcomes resulting from the    
bill or resolution4 ,the analysis 7or a 
technical appendix to the analysis7     
shall specify the economic and          
econometric models used1 sources of     
data1 relevant data transformations1 and
 shall include such explanation as is   
necessary to make the models            
comprehensible to academic and public   
policy analysts4  7c7 ,reporting on     
accuracy of ,macroeconomic impact       
analyses ,upon completion of the fifth  
fiscal year beginning after the date of 
enactment of any major bill or joint    
resolution for which the ,congressional 
,budget ,office prepared an analysis    
under subsection 7a71 the ,congressional
 ,budget ,office shall report on the    
accuracy of the original macroeconomic  
impact analysis of such enacted bill or 
joint resolution and submit these       

reports to the ,committees on the       
,budget of the ,house of                
,representatives and the ,senate4  7d7  
,definitions ,as used in this section-- 
7#a7 the term macroeconomic impact      
analysis means--  7,a7 an estimate of   
the changes in economic output1         
employment1 interest rates1 capital     
stock1 and tax revenues expected to     
result from enactment of the proposal2  
7,b7 an estimate of revenue feedback    
expected to result from enactment of the
 proposal2 and  7,c7 a statement        
identifying the critical assumptions and
 the source of data underlying that     
estimate2  7#b7 the term major bill or  
resolution means any bill or resolution 
if the gross budgetary effects of such  
bill or resolution for any fiscal year  
in the period for which an estimate is  
prepared under section #djb is estimated
 to be greater than 4#be percent of the 
current projected gross domestic product
 of the ,united ,states for any such    
fiscal year2  7#c7 the term budgetary   

effect1 when applied to a major bill or 
resolution1 means the changes in        
revenues1 outlays1 deficits1 and debt   
resulting from that measure2 and  7#d7  
the term revenue feedback means changes 
in revenue resulting from changes in    
economic growth as the result of the    
enactment of any major bill or          
resolution4  7e7 ,legislation with      
revenue provisions ,the macroeconomic   
analysis described in subsection 7c7    
shall rely on macroeconomic analysis    
prepared by the ,joint ,committee on    
,taxation for any provisions of such    
legislation that are described in       
section #bja7;f74 ,for legislation      
consisting solely of provisions         
described in section #bja7;f71 the      
macroeconomic analysis described in     
subsection 7c7 shall be prepared by the 
,joint ,committee on ,taxation4  4  7b7 
,conforming amendment ,the table of     
contents set forth in section #a7;b7 of 
the ,congressional ,budget and          
,impoundment ,control ,act of #aigd is  

amended by inserting after the item     
relating to section #djf the following  
new item3  ,sec4 #djg4 ,macroeconomic   
impact analysis of major legislation4  4
  ,passed the ,house of ,representatives
 ,april #d1 #bjad4;,clerk4