A bill to amend the Congressional Budget Act of 1974 to require the Congressional Budget Office to prepare economic impact statements in connection with legislation reported by congressional committees and in connection with rules and regulations proposed by Federal agencies.
Economic Impact Act - Requires the Director of the Congressional Budget Office to prepare an economic impact statement for each bill or joint resolution reported in the Senate or the House of Representatives, each amendment proposed on the floor of Congress, and each rule or regulation proposed by any Federal agency. Provides that such a statement shall cover the fiscal year in which the bill or rule is proposed and each of the five following fiscal years, or the authorized duration of the bill's provisions, and shall analyze specified economic and social factors.
Directs Federal agencies to provide all necessary assistance to the Director in carrying out his duties under this Act.
Referred to Senate Committee on Government Operations.
Introduced in House
Introduced in House
Referred to House Committee on Rules.
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