Today, the House of Representatives passed H.R. 1874, the Pro-Growth Budget Act, sponsored by House Budget Committee Vice-Chairman Tom Price of Georgia. This bill would require the Congressional Budget Office to provide a long-term, macroeconomic analysis of economically significant legislation. Upon passage of the legislation, House Budget Committee Chairman Paul Ryan of Wisconsin issued the following statement:
"Federal policy has a big impact on the economy, and when policymakers have more information, they can make better decisions. The Pro-Growth Budgeting Act will help Congress understand the economic effects of proposed legislation. This bill takes nothing away; it adds to lawmakers' tool kit, so they can better understand and debate public policy.
"So I want to thank Vice-Chairman Tom Price for sponsoring this bill. He and the rest of our committee are committed to fixing Washington's broken budget process."