Today, Congressman Stutzman (IN-03) issued the following statement after the House passed the Pro-Growth Budgeting Act:
"Over the past year, my colleagues and I on the Budget Committee have offered fact-based solutions to realistically address our $15.3 trillion debt. A long-term solution has to begin with honesty, not gimmicks or fine print. Hard-working taxpayers need to know how their dollars are being spent. The Pro-Growth Budgeting Act will bring accountability and transparency to Washington."
"For too long the Congressional Budget Office looked at legislation through an inside-the-beltway lens. The Congressional Budget Office should include an estimate of how proposed legislation would affect big-picture economic considerations like GDP, jobs, and business investment. When over 13 million Americans are unable to find jobs, Washington must view the long-term impacts of its spending decisions."
The Pro-Growth Budgeting Act requires that, for legislation estimated to have a budgetary effect of at least 0.25 percent of GDP (approximately $38 billion in 2011), the CBO present an analysis of the legislation's potential impact on the U.S. economy. This required analysis would include an estimate of the changes in economic output, employment, capital stock, and tax revenues.