Cost Estimates Improvement Act

Bill 119 hr 991, also known as the "Public Debt Cost Estimate Act," aims to amend the Congressional Budget Act of 1974 to require that any estimate prepared by the Congressional Budget Office or the Joint Committee on Taxation must include costs related to servicing the public debt. This means that when analyzing the financial impact of proposed legislation, the government will now have to take into account the costs associated with paying interest on the national debt.

The bill seeks to provide a more comprehensive and accurate assessment of the true financial implications of proposed legislation by ensuring that the costs of servicing the public debt are factored into budget estimates. This information will be crucial for lawmakers and policymakers to make informed decisions about the fiscal impact of their actions.

In addition to including public debt costs in budget estimates, the bill also aims to address other related purposes that are not specified in the summary. This could potentially involve additional provisions or requirements related to budgeting and fiscal responsibility. Overall, Bill 119 hr 991 represents a significant step towards improving transparency and accountability in the budgeting process by ensuring that the full costs of servicing the public debt are taken into consideration when evaluating the financial impact of proposed legislation.