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Budget Transparency: More Frequent Economic Forecasts for Congress.

This law improves the financial information Congress uses when making decisions about spending and taxes. It requires the Congressional Budget Office (CBO) to publish at least two updates to its annual budget forecasts, including the underlying economic data. The President must also submit updated technical budget data to Congress earlier each year (by February 1st).
Key points
The Congressional Budget Office must now provide at least two annual updates to its long-term budget forecasts, offering lawmakers a clearer, more current view of the nation's finances.
The President is required to submit updated technical budget data for the upcoming fiscal year to Congress earlier, specifically by February 1st.
These changes aim to ensure that fiscal decisions affecting public services and taxes are based on the most recent economic information available.
article Official text account_balance Process page
VOTING RESULTS
2024-12-11
100%
For 407
Against 0
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_9716
Sponsor: Rep. Moore, Blake D. [R-UT-1]
Process start date: 2024-09-20
Voting date: 2024-12-11
Meeting no: 2
Voting no: 499
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Increasing Baseline Updates Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9716.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-09-20.

What are the main provisions?

Key points include:

  • The Congressional Budget Office must now provide at least two annual updates to its long-term budget forecasts, offering lawmakers a clearer, more current view of the nation's finances.
  • The President is required to submit updated technical budget data for the upcoming fiscal year to Congress earlier, specifically by February 1st.
  • These changes aim to ensure that fiscal decisions affecting public services and taxes are based on the most recent economic information available.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Moore, Blake D. [R-UT-1].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 407 - 0 (Roll no. 499). (text: CR H6825)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy