,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #dcfa  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,novemb] #i1 #bjag,mr4
 ,mess] introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ! ,budget1 & 9
 addition to ! ,committee on ,ways &    
,means1 = a p]iod to be subsequ5tly     
det]m9$ by ! ,speak]1 9 ea* case =      
consid]ation ( su* provisions z fall )9 
! jurisdiction ( ! committee conc]n$  ,a
 ,,bill  ,to require ! use (            
macroeconomic analysis 9 e/imat+ !      
budget>y effects ( major rev5ue         
legislation4  #a4 ,%ort title ,?is ,act 
may be cit$ z ! ,accurate ,budget+ ,act4
  #b4 ,macroeconomic impact analyses =  
major rev5ue legislation  7a7           
,def9itions ,section #c ( !             
,congressional ,budget ,act ( #aigd 7#b 
,u4,s4,c4 #fbb7 is am5d$ by add+ at !   
end ! foll[+3  7#ab7  7,a7 ,! t]m       
macroeconomic impact analysis means--   
7i7 an e/imate ( ! *anges 9 economic    
output1 employm5t1 int]e/ rates1 capital
 /ock1 & tax rev5ues expect$ to result f

 ! rev5ue provisions 9 a major rev5ue   
bill or resolution2  7ii7 an e/imate (  
rev5ue fe$back expect$ to result f ^?   
rev5ue provisions2 &  7iii7 a /atem5t   
id5tify+ ! critical assumptions & !     
s\rce ( data und]ly+ t e/imate1 to !    
ext5t necess>y to make ! models         
compreh5sible to academic & public      
policy analy/s4  7,b7 ,! t]m major      
rev5ue bill or resolution means a bill1 
resolution1 conf]5ce report1 or am5dm5t 
betwe5 ! ,h\ses = :i*-- 7i7 ei!r--  7,i7
 ! sum ( ! positive *anges 9 rev5ues    
result+ f su* measure 7n includ+ !      
impact ( any tim+ %ifts = ! due date =  
e/imat$ corporate income tax paym5ts7 = 
any fiscal ye> 9 ! p]iod = :i* an       
e/imate is prep>$ "u section #bja7;f72  
or  7,,ii7 ! absolute value ( ! sum ( ! 
negative *anges 9 rev5ues result+ f su* 
measure 7n includ+ ! impact ( any tim+  
%ifts = ! due date = e/imat$ corporate  
income tax paym5ts7 = any fiscal ye> =  
:i* su* an e/imate is prep>$1  is great]
 ?an  7ii7 #j4be p]c5t ( ! curr5t       

project$ gross dome/ic product ( !      
,unit$ ,/ates 7z det]m9$ by ! ,bureau ( 
,economic ,analysis ( ! ,dep>tm5t (     
,comm]ce7 = su* fiscal ye>4  7,c7 ,! t]m
 rev5ue fe$back means *anges 9 rev5ue   
result+ f *anges 9 economic gr[? z !    
result ( ! enactm5t ( any major rev5ue  
bill or resolution4  4  7b7             
,macroeconomic impact analysis ( major  
rev5ue legislation  7#a7 ,9 g5]al       
,section #bja7;f7 ( ! ,congressional    
,budget ,act ( #aigd 7#b ,u4,s4,c4      
#fja7;f77 is am5d$-- 7,a7 by /rik+ ,= ! 
purposes & ins]t+ ! foll[+3  7#a7 ,= !  
purposes  2 &  7,b7 by add+ at ! end !  
foll[+3  7#b7 ,to ! ext5t practicable1 a
 rev5ue e/imate prep>$ by ! ,jo9t       
,committee on ,taxation = a major rev5ue
 bill or resolution %all incorporate a  
macroeconomic impact analysis ( !       
budget>y effects ( ! major rev5ue bill  
or resolution4  4  7#b7 ,,paygo ,section
 #c7d7 ( ! ,/atutory ,pay-,z-,y-,g ,act 
( #bjaj 7#b ,u4,s4,c4 #icb7d77 is am5d$ 
by add+ at ! end ! foll[+3  7,d7  7i7 ,9

 ?is subp>agraph1 ! t]ms macroeconomic  
impact analysis & major rev5ue bill or  
resolution h ! mean+s giv5 su* t]ms 9   
section #c ( ! ,congressional ,budget   
,act ( #aigd 7#b ,u4,s4,c4 #fbb74  7ii7 
,to ! ext5t practicable1 an e/imate ( ! 
budget>y effects ( a major rev5ue bill  
or resolution prep>$ = purposes ( ?is   
,act %all incorporate a macroeconomic   
impact analysis ( ! budget>y effects ( !
 major rev5ue bill or resolution4  4