H.R. 10780

Congressional Budget Reform Act

Sponsor: Jared F. Golden

2 cosponsors
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I Format and Consideration of Appropriation Bills

II Executive Spending and Impoundment Reforms

III Fiscal Targets and Budget Enforcement Reforms

Sec. 303. Content of concurrent resolution on the budget

Section 301(a) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)), is amended—

(1) in paragraph (6), by striking and at the end;

(2) in paragraph (7), by striking years. and inserting years;; and

(3) by inserting before the matter following paragraph (7) the following:

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(8) specify the amount of the gross domestic product of the United States assumed for purposes of each fiscal year covered by the concurrent resolution;

(9) specify a target for the ratio of—

(A) the debt held by the public to the gross domestic product of the United States (rounded to the nearest one-tenth of 1 percent) for each fiscal year covered by the concurrent resolution; or

(B) the deficit to the gross domestic product of the United States (rounded to the nearest one-tenth of 1 percent) for each such fiscal year;

(10) the ratio of the public debt to the estimated gross domestic product; and

(11) the ratio of the surplus or deficit to the estimated gross domestic product.

IV Fiscal Data and Preparedness Reforms