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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
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

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)

Bill Actions

Date Description
Aug. 1, 2013 Referred to the House Committee on the Budget.