Cost Estimates Improvement Act

# Cost Estimates Improvement Act Summary **What the Bill Would Do** The Cost Estimates Improvement Act would change how Congress receives budget information about proposed legislation. Currently, when the Congressional Budget Office (CBO) and Joint Committee on Taxation prepare cost estimates for new bills, they calculate how much the legislation would cost the government. This bill would require those cost estimates to also include the costs of servicing (paying interest on) the public debt that results from the spending. In other words, it would show the full long-term financial impact of new laws, including the interest payments taxpayers would owe on any new borrowing. **Who It Affects and Key Provisions** This bill primarily affects Congress, as it changes what information lawmakers receive before voting on legislation.

It could indirectly affect the general public by potentially making the true costs of legislation more visible to both legislators and constituents. The bill has no provisions limiting what Congress can spend—it only requires different accounting and reporting practices. The change could make expensive legislation appear even more costly on paper, potentially influencing how lawmakers and voters view proposed bills. **Current Status** As of now, HR 991 is in committee and has not advanced to a full floor vote in the House. It was introduced in the 119th Congress by Representative Michael Cloud (R-TX).