,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #dcfa  ,,in ,,the ,,house ,,of  
,,representatives  ,november #i1        
#bjag,mr4 ,messer introduced the        
following bill2 which was referred to   
the ,committee on the ,budget1 and in   
addition to the ,committee on ,ways and 
,means1 for a period to be subsequently 
determined by the ,speaker1 in each case
 for consideration of such provisions as
 fall within the jurisdiction of the    
committee concerned  ,a ,,bill  ,to     
require the use of macroeconomic        
analysis in estimating the budgetary    
effects of major revenue legislation4   
#a4 ,short title ,this ,act may be cited
 as the ,accurate ,budgeting ,act4  #b4 
,macroeconomic impact analyses for major
 revenue legislation  7a7 ,definitions  
,section #c of the ,congressional       
,budget ,act of #aigd 7#b ,u4,s4,c4     
#fbb7 is amended by adding at the end   
the following3  7#ab7  7,a7 ,the term   
macroeconomic impact analysis means--   
7i7 an estimate of the changes in       

economic output1 employment1 interest   
rates1 capital stock1 and tax revenues  
expected to result from the revenue     
provisions in a major revenue bill or   
resolution2  7ii7 an estimate of revenue
 feedback expected to result from those 
revenue provisions2 and  7iii7 a        
statement identifying the critical      
assumptions and the source of data      
underlying that estimate1 to the extent 
necessary to make the models            
comprehensible to academic and public   
policy analysts4  7,b7 ,the term major  
revenue bill or resolution means a bill1
 resolution1 conference report1 or      
amendment between the ,houses for       
which-- 7i7 either--  7,i7 the sum of   
the positive changes in revenues        
resulting from such measure 7not        
including the impact of any timing      
shifts for the due date for estimated   
corporate income tax payments7 for any  
fiscal year in the period for which an  
estimate is prepared under section      
#bja7;f72 or  7,,ii7 the absolute value 

of the sum of the negative changes in   
revenues resulting from such measure    
7not including the impact of any timing 
shifts for the due date for estimated   
corporate income tax payments7 for any  
fiscal year for which such an estimate  
is prepared1  is greater than  7ii7     
#j4be percent of the current projected  
gross domestic product of the ,united   
,states 7as determined by the ,bureau of
 ,economic ,analysis of the ,department 
of ,commerce7 for such fiscal year4     
7,c7 ,the term revenue feedback means   
changes in revenue resulting from       
changes in economic growth as the result
 of the enactment of any major revenue  
bill or resolution4  4  7b7             
,macroeconomic impact analysis of major 
revenue legislation  7#a7 ,in general   
,section #bja7;f7 of the ,congressional 
,budget ,act of #aigd 7#b ,u4,s4,c4     
#fja7;f77 is amended-- 7,a7 by striking 
,for the purposes and inserting the     
following3  7#a7 ,for the purposes  2   
and  7,b7 by adding at the end the      

following3  7#b7 ,to the extent         
practicable1 a revenue estimate prepared
 by the ,joint ,committee on ,taxation  
for a major revenue bill or resolution  
shall incorporate a macroeconomic impact
 analysis of the budgetary effects of   
the major revenue bill or resolution4  4
  7#b7 ,,paygo ,section #c7d7 of the    
,statutory ,pay-,as-,you-,go ,act of    
#bjaj 7#b ,u4,s4,c4 #icb7d77 is amended 
by adding at the end the following3     
7,d7  7i7 ,in this subparagraph1 the    
terms macroeconomic impact analysis and 
major revenue bill or resolution have   
the meanings given such terms in section
 #c of the ,congressional ,budget ,act  
of #aigd 7#b ,u4,s4,c4 #fbb74  7ii7 ,to 
the extent practicable1 an estimate of  
the budgetary effects of a major revenue
 bill or resolution prepared for        
purposes of this ,act shall incorporate 
a macroeconomic impact analysis of the  
budgetary effects of the major revenue  
bill or resolution4  4