Johnson Cosponsors Pro-Growth Budgeting Act

Press Release

Senator Ron Johnson (WI) released the following statement regarding the Pro-Growth Budgeting Act, which was introduced today by Senator Kelly Ayotte (NH). Johnson is a cosponsor:

"America's fiscal and economic health have both deteriorated badly in recent years. Under President Obama, we've lost 1.6 million jobs, and we've run three straight years of deficits over $1 trillion.

"Congress needs the best available data as it addresses these serious challenges -- and the Pro-Growth Budgeting Act provides that. It gives Congress a better understanding of the effects of major legislation on Gross Domestic Product, employment, labor supply, and other factors."

The Pro-Growth Budgeting Act requires CBO to supplement its traditional cost estimates with a more dynamic assessment of the impact "major" legislation would have on the economy. It would also report on the potential fiscal effects of legislation, including any estimates of revenue increases or decreases resulting from changes in GDP.

Source