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H.R.2967: INFORM Act
About this Bill
|This bill was introduced in the||113th Congress|
|This bill is primarily about||economics and public finance|
|You can||read the bill|
|Sponsor||Aaron Schock, R-Ill.|
|Total Cosponsors||8 (2 Democrats, 6 Republicans)|
|Introduced||Aug. 1, 2013|
|Latest Major Action||Aug. 1, 2013|
|See it on||GovTrack|
|See it on||C-SPAN|
- Bill introduced in the House
- Bill passed in the House
- Bill passed in the Senate
- Bill signed into law
Intergenerational Financial Obligations Reform Act or INFORM Act - Amends the Congressional Budget Act of 1974 to require the Congressional Budget Office (CBO) to provide certain information on any legislation or resolution considered in either chamber which would impact revenues or mandatory spending by greater than 0.5% of gross domestic product (GDP) over the following 10-fiscal-year period, and upon request by the Chairmen or Ranking Members of the congressional budget committees.
Requires such information to comprise:
- a fiscal gap and generational accounting analysis, including any change in the analysis relative to the baseline; and
- the federal deficit, at current spending levels, in the fiscal year that is 75 years after the fiscal year in which the legislation is being considered, as well as the stock of the debt in that 75th year.
Requires: (1) CBO to produce an annual fiscal gap and generational accounting analysis within its...
(Source: Congressional Research Service)
|Aug. 1, 2013||Referred to the House Committee on the Budget.|