Rep. Hern introduces legislation that requires CBO to utilize dynamic scoring on legislation
“Dynamic scoring isn’t a new concept. It used to be the standard, but it was written out of the House rules at the start of this year, to the detriment of Congress,” said Rep. Hern. “When I look at new bills, I don’t just look at how it fits into our federal budget. I like to see how it will impact our economy, how it will contribute to the jobs market, and what kind of an effect it will have on the bottom line for everyday Americans. Fiscal responsibility should be a top priority in the legislative process. The Pro-Growth Budgeting Act will help provide that information so that every Member of Congress can see the full picture of a bill before voting on it.”
The Pro-Growth Budgeting Act has strong support among Rep. Hern’s colleagues already, with 16 original co-sponsors, including Budget Committee Ranking Member Steve Womack.
Rep. Womack said, “When considering legislation, Congress should have a full and clear analysis of a policy’s impact. That means understanding the initial and long-term effects on the federal budget, economy, job creation, and hardworking taxpayers. The Pro-Growth Budgeting Act would implement dynamic scoring to prioritize fiscal responsibility and give policymakers a detailed picture of a bill before casting a vote. I’m proud to cosponsor this commonsense proposal and thank Representative Hern for his leadership on this issue.”
Support for the Pro-Growth Budgeting Act:
"By requiring the CBO to dynamically score major legislation, Rep. Hern's Pro-Growth Budget Act will provide a clear picture of the real economic impact of legislation that would affect all Americans. The act is a strong step on the path to fiscal sanity and fiscal certainty, and all Members of Congress should support this commonsense legislation." – Tim Chapman, Executive Director of Heritage Action for America
"National Taxpayers Union (NTU) applauds Representative Kevin Hern (R-OK) for introducing the Pro-Growth Budgeting Act, which would restore dynamic scoring requirements for major legislation after the House repealed those rules in the 116th Congress. Dynamic scoring, or macroeconomic impact analysis, is a critical tool that helps lawmakers understand the impact legislation will have beyond just the spending and revenues of the federal government. It is both prudent and sensible to ask the Congressional Budget Office (CBO) to produce a dynamic score for legislation that would have an impact of $40 billion or more. NTU hopes that the House will quickly advance this legislation, and that lawmakers will frequently use this valuable process to consider the full economic impact of major bills." – National Taxpayers Union
“The legislation proposed by Representative Kevin Hern (R-OK) is a welcome step toward tax and spending reform at a time when lawmakers rarely consider the long-run consequences of their policy proposals. The Pro-Growth Budgeting Act would incorporate dynamic scoring into the legislative process, ensuring that members of Congress understand the full benefits of pro-growth fiscal policies. Research has shown that lower taxation and spending increases revenue for decades after policies become law, and the Taxpayers Protection Alliance supports putting this compelling evidence at the front-and-center of debates on Capitol Hill.” – David Williams, President of the Taxpayers Protection Alliance
“Congress should not approach legislation without realizing the potential impact the proposals will have on the economy. Static scoring provides an incomplete picture of the potential impact of revenues and spending, and it does not account for how a particular bill may impact jobs, investment, and gross domestic product. The Pro-Growth Budgeting Act provides the data Congress needs when it considers the benefits or consequences of legislation. We applaud Rep. Kevin Hern for introducing this bill and urge members to co-sponsor it.” – FreedomWorks
“Rep. Kevin Hern is doing a great service for taxpayers by introducing the Pro-Growth Budgeting Act (PGBA). Requiring the Congressional Budget Office to produce a dynamic score of legislation will more accurately measure its impact on major economic indicators, including GDP, interest rates, investment, and jobs. The Council for Citizens Against Government Waste urges all members of the House of Representatives to support this important bill.” – Tom Schatz, Council for Citizens Against Government Waste
“Evidence-based policymaking has been gaining steam in Congress. This act would provide legislators with more data to consider before they vote yea or nay." – Kevin R. Kosar, Ph.D., Vice-President of Policy, R Street Institute
Original cosponsors include:
Rep. Markwayne Mullin (OK-02)
Rep. Steve Womack (AR-03)
Rep. Jim Jordan (OH-04)
Rep. Mark Meadows (NC-11)
Rep. Jim Banks (IN-03)
Rep. Ralph Norman (SC-05)
Rep. Greg Murphy (NC-03)
Rep. Dan Meuser (PA-09)
Rep. Fred Upton (MI-06)
Rep. Warren Davidson (OH-08)
Rep. Chip Roy (TX-21)
Rep. Mike Kelly (PA-16)
Rep. Mike Johnson (LA-04)
Rep. Lance Gooden (TX-05)
Rep. Guy Reschenthaler (PA-14)
Rep. Mark Green (TN-07)
Rep. John Joyce (PA-13)
Background Information:
Macroeconomic impact analysis, also known as dynamic scoring, measures how legislation can change the economy in terms of jobs, GDP, investment, labor supply, interest rates, and other major economic indicators. A requirement for macroeconomic impact analysis for all major bills will provide lawmakers with more context and data, beyond just the required cost to the U.S. government of bills considered by Congress.
This requirement was previously included in House rules, but was repealed at the start of the 116th Congress.
HR 4959 requires the Congressional Budget Office (CBO) to produce a macroeconomic impact analysis (dynamic score) for committee-reported major legislation that explains how the bill could affect the U.S. economy.
This will enable a more accurate analysis of how legislation affects the economy. The analysis would be in addition to the budget cost estimate that CBO produces.
The macroeconomic analysis would be required for any legislation with an effect on revenue, spending, deficits or debts that exceeds 0.25 percent of current projected U.S. GDP ($40 billion).
The House Budget Committee Chairman and Ranking Member both may request a macroeconomic impact analysis, even if the legislation does not have an impact which exceeds 0.25% of GDP.
You can read the full text of the bill here.
from MuskogeePolitico.com
