Overview
Title
To amend the Congressional Budget and Impoundment Control Act of 1974 to require the Congressional Budget Office to provide baseline updates, and for other purposes.
ELI5 AI
H. R. 9716 is a plan that says two times a year, the people who watch over the country's money must tell everyone how much money they think will be needed. Plus, once a year, the President has to share important numbers about the country's money with Congress, like a report card.
Summary AI
H. R. 9716 is a bill that aims to amend the Congressional Budget and Impoundment Control Act of 1974 to require the Congressional Budget Office (CBO) to provide at least two updates to the federal budget baseline each year, with one update including economic data. Additionally, it mandates that the President submit technical budget data to Congress by February 1 each year. This data should cover budget estimates for the current and prior years and include credit reestimates for the current year, as detailed in the Federal credit supplement.
Published
Keywords AI
Sources
Bill Statistics
Size
Language
Complexity
AnalysisAI
General Summary of the Bill
The proposed bill, titled "H.R. 9716," aims to amend the Congressional Budget and Impoundment Control Act of 1974. This legislation mandates that the Congressional Budget Office (CBO) provide more frequent updates to its financial forecasts, otherwise known as baselines, to the Budget Committees of both the House of Representatives and the Senate. Additionally, it requires the President to annually submit detailed technical budget data to Congress by February 1st, focusing on updated estimates and credit adjustments. The legislation seeks to enhance transparency and timeliness in the federal budgeting process.
Summary of Significant Issues
One of the primary concerns with this bill is the lack of specificity regarding the frequency or exact timing of the baseline updates required from the CBO, which could lead to inconsistencies in reporting. The phrase "to the extent practicable" introduces ambiguity about the CBO Director's obligation to provide these updates, potentially hindering accountability. Similarly, the bill does not specify any repercussions if the President fails to submit the technical budget data by the specified deadline, which could result in non-compliance without consequences.
Additionally, the bill's use of terms such as "technical budget data" and "credit reestimates" may lead to varied interpretations and inconsistent submissions. Moreover, the bill's title, "Increasing Baseline Updates Act," is somewhat vague and does not clearly communicate the bill's objectives or its impact to a general audience.
Impact on the Public
For the general public, this bill may appear to provide potential benefits in terms of increased transparency and reliability in governmental fiscal reporting. However, the lack of clarity and specificity might mean that the improvements hoped for in terms of accountability and timely updates might not be fully realized. The public's understanding of fiscal health and governmental spending could be impacted positively if the CBO provides clear and regular updates as envisioned.
Impact on Specific Stakeholders
Congress and Government Agencies: Members of Congress and relevant government agencies stand to benefit from more frequent updates and detailed budget data, which could enhance their ability to plan and allocate resources effectively. However, without specific accountability measures, there may be challenges in ensuring these updates occur in a timely and consistent manner.
The Congressional Budget Office: The bill places additional responsibilities on the CBO to provide baseline updates, potentially increasing their workload and requiring more resources. The ambiguity of terms and deadlines could create internal challenges in meeting the bill’s requirements.
The President and Executive Branch: The requirement for a clear, fixed deadline for budget submissions could streamline processes within the executive branch. However, the absence of penalties for non-compliance could result in missed deadlines, reducing the intended effectiveness of the legislation.
In summary, while H.R. 9716 aims to improve transparency and planning in government budgeting, its success largely depends on the clarity of implementation and the establishment of mechanisms to ensure compliance and accountability. The potential positive impacts may not be fully realized unless these issues are adequately addressed.
Issues
The lack of specificity in the frequency and timing for the Congressional Budget Office (CBO) baseline updates could result in inconsistent reporting intervals, potentially affecting budgetary planning and transparency. This issue is noted in Section 2.
The phrase 'to the extent practicable' in Section 2 introduces ambiguity about the CBO Director's obligation to update the baseline, which may lead to varying interpretations and lack of accountability.
The bill fails to specify consequences or accountability measures if the President does not meet the February 1 deadline for submitting technical budget data as outlined in Section 3. This could result in delays or lack of compliance without any repercussions.
The vagueness of terms such as 'technical budget data' and 'credit reestimates' in Section 3 could lead to inconsistent interpretation and submission, impacting the accuracy and reliability of fiscal data provided to Congress.
The short title 'Increasing Baseline Updates Act' in Section 1 is vague and does not provide clarity on the bill's purpose or impact, which could lead to misunderstandings about its objectives among stakeholders and the general public.
Sections
Sections are presented as they are annotated in the original legislative text. Any missing headers, numbers, or non-consecutive order is due to the original text.
1. Short title Read Opens in new tab
Summary AI
The first section of the act states that it can be officially called the “Increasing Baseline Updates Act.”
2. Congressional Budget Office updates to baseline Read Opens in new tab
Summary AI
The Congressional Budget Office is required to provide at least two updates to its financial forecasts each year to the Budget Committees of both the House of Representatives and the Senate. At least one of these updates must include the economic data used to make those forecasts, but the Director is allowed to provide additional updates if needed.
3. Annual technical budget data submission by the President Read Opens in new tab
Summary AI
The President is required to send Congress detailed technical budget information by February 1 each year. This information should include updated estimates for the current and past years, as well as any credit adjustments for the current year.