arrow_back Back to App

Improved Public Debt Cost Estimates for New Laws

This new law requires government budget offices to include public debt servicing costs when estimating the financial impact of new legislation. This provides citizens with a clearer picture of the full costs of proposed laws, potentially leading to more responsible public financial management and impacting future tax burdens.
Key points
All new laws and changes will have more precise cost estimates, including expenses for servicing public debt.
Increased transparency in public finances can help in better expenditure planning and avoiding unforeseen burdens on citizens.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_991
Sponsor: Rep. Cloud, Michael [R-TX-27]
Process start date: 2025-02-05
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Cost Estimates Improvement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_991.

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 2025-02-05.

What are the main provisions?

Key points include:

  • All new laws and changes will have more precise cost estimates, including expenses for servicing public debt.
  • Increased transparency in public finances can help in better expenditure planning and avoiding unforeseen burdens on citizens.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Cloud, Michael [R-TX-27].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy Public Investments