H.R. 991 · Where this bill is now
In committee
Introduced in the House, sent to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned, Feb 5, 2025
What this bill does
In plain words · AI-written from the official summaryCost estimates must include public debt costs
When Congress needs to know how much a bill will cost, the Congressional Budget Office or the Joint Committee on Taxation prepare estimates. Right now, those estimates show the direct costs of the bill itself. This bill would require those cost estimates to also include how much it will cost the government to service, or pay interest on, the public debt that results from the new spending.
How it affects you
You won't directly notice a change in your daily life, but this affects how Congress evaluates new bills. By seeing the full picture of costs—including debt interest—lawmakers would have more complete information when deciding whether to pass legislation that adds to federal spending.
Read the official summary (Introduced in House, Feb 5, 2025)
Cost Estimates Improvement Act
This bill requires cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include the costs of servicing the public debt.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 991
A BILL
Cost Estimates Improvement Act
Sponsor: Rep. Michael Cloud (R-TX-27) · Introduced Feb 5, 2025 · Economics and Public Finance · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Feb 5, 2025: “Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.”