HR 1302

112th CONGRESS
1st Session

H. R. 1302

To make the Federal budget process more transparent and to make future budgets more sustainable.

IN THE HOUSE OF REPRESENTATIVES

March 31, 2011

Mr. QUIGLEY (for himself, Mr. PETERS, Mr. HIMES, and Mr. POLIS) introduced the following bill; which was referred to the Committee on the Budget, and in addition to the Committees on Rules and Ways and Means, 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


A BILL

To make the Federal budget process more transparent and to make future budgets more sustainable.

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

TITLE I--RECEIPT FOR TAXPAYERS

TITLE II--RETURN TO RESPONSIBLE BUDGET RULES

TITLE III--MORE TRANSPARENCY AND BETTER ACCOUNTING FOR LONG-TERM SPENDING

Subtitle A--CBO and JCT Descriptive Analyses for Second Decade Budget Impact and Net Present Value Estimates for Any Costs Escalate Outside 10-Year Budget Window

Subtitle B--OMB Reports on Unbudgeted Fiscal Exposures

Subtitle C--Accrual Accounting Report

TITLE IV--RENEWED BUDGET PROCESS EMPHASIS ON FISCAL SUSTAINABILITY

Subtitle A--Reform of the President's Budget

Subtitle B--Reform of the Congressional Budget Resolution

Subtitle C--Quadrennial Fiscal Sustainability Report

Subtitle D--Presidential Address to Congress on Fiscal Sustainability

TITLE V--MORE OVERSIGHT OF TAX EXPENDITURES

Subtitle A--Identification of Tax Expenditures

Subtitle B--Enforcement of Tax Expenditure Requirements

Subtitle C--Point of Order Against Tax Expenditures Unless They Sunset Within Ten Years

Subtitle D--Tax Expenditure Performance Reviews

Subtitle E--Studies To Improve the Use of IRS Data in Evaluating Tax Expenditures

Subtitle F--Executive Branch Reporting of Tax Expenditures

SEC. 2. PURPOSE.

TITLE I--RECEIPT FOR TAXPAYERS

SEC. 101. PROVISION OF TAXPAYER RECEIPT.

`SEC. 7529. TAXPAYER RECEIPT.

TITLE II--RETURN TO RESPONSIBLE BUDGET RULES

SEC. 201. RESTORING HOUSE PAYGO RULE.

SEC. 202. REMOVING AUTHORITY OF BUDGET CHAIRMAN TO UNILATERALLY SET SPENDING LIMITS.

TITLE III--MORE TRANSPARENCY AND BETTER ACCOUNTING FOR LONG-TERM SPENDING

Subtitle A--CBO and JCT Descriptive Analyses for Second Decade Budget Impact and Net Present Value Estimates for Any Costs Escalate Outside 10-Year Budget Window

SEC. 301. CBO AND JCT DESCRIPTIVE ANALYSES FOR SECOND DECADE BUDGET IMPACT.

SEC. 302. CBO AND JCT NET PRESENT VALUE ESTIMATES.

Subtitle B--OMB Reports on Unbudgeted Fiscal Exposures

SEC. 311. OMB REPORTS ON UNBUDGETED FISCAL EXPOSURES.

Subtitle C--Accrual Accounting Report

SEC. 321. ACCRUAL ACCOUNTING REPORT.

TITLE IV--RENEWED BUDGET PROCESS EMPHASIS ON FISCAL SUSTAINABILITY

Subtitle A--Reform of the President's Budget

SEC. 401. LONG-TERM FISCAL RESPONSIBILITY.

Subtitle B--Reform of the Congressional Budget Resolution

SEC. 411. LONG-TERM FISCAL RESPONSIBILITY.

Subtitle C--Quadrennial Fiscal Sustainability Report

SEC. 421. OMB QUADRENNIAL REPORTS.

Subtitle D--Presidential Address to Congress on Fiscal Sustainability

SEC. 431. PRESIDENTIAL ADDRESS ON LONG-TERM FISCAL SUSTAINABILITY.

TITLE V--MORE OVERSIGHT OF TAX EXPENDITURES

Subtitle A--Identification of Tax Expenditures

SEC. 501. JCT REPORTS ON TAX EXPENDITURES.

SEC. 502. DEFINITION OF TAX SUBSIDY.

Subtitle B--Enforcement of Tax Expenditure Requirements

SEC. 511. TAX EXPENDITURE POINTS OF ORDER.

`TAX EXPENDITURE POINTS OF ORDER

Subtitle C--Point of Order Against Tax Expenditures Unless They Sunset Within Ten Years

SEC. 521. POINT OF ORDER REGARDING TAX EXPENDITURES.

Subtitle D--Tax Expenditure Performance Reviews

SEC. 531. TAX EXPENDITURE PERFORMANCE REVIEWS.

Subtitle E--Studies To Improve the Use of IRS Data in Evaluating Tax Expenditures

SEC. 541. GAO REPORT ON TAX EXPENDITURES.

Subtitle F--Executive Branch Reporting of Tax Expenditures

SEC. 551. EXECUTIVE BRANCH REPORTING OF TAX EXPENDITURES.

END