H.R. 2967: INFORM Act
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H.R. 2967: INFORM Act
113th Congress · introduced 2013-08-01 · Economics and Public Finance · Latest: Referred to the House Committee on the Budget.
federal
Follow this bill, step by step
- Where it came from: introduced 2013-08-01 · official record
- Who proposed it: Rep. Schock, Aaron [R-IL-18] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on the Budget. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
INFORM Act
Plain summary
Intergenerational Financial Obligations Reform Act or INFORM Act - Amends the Congressional Budget Act of 1974 to require the Congressional Budget Office (CBO) to provide certain information on any legislation or resolution considered in either chamber which would impact revenues or mandatory spending by greater than 0.5% of gross domestic product (GDP) over the following 10-fiscal-year period, and upon request by the Chairmen or Ranking Members of the congressional budget committees. Requires such information to comprise: a fiscal gap and generational accounting analysis, including any change in the analysis relative to the baseline; and the federal deficit, at current spending levels, in the fiscal year that is 75 years after the fiscal year in which the legislation is being considered, as well as the stock of the debt in that 75th year. Requires: (1) CBO to produce an annual fiscal gap and generational accounting analysis within its annual "Long-Term Budget Outlook" and post it on the CBO public website, and (2) the Comptroller General to produce a separate similar analysis within its annual "Long-Term Fiscal Outlook" and post it on the General Accountability Office (GAO) public website. Requires the President's budget submission to Congress to include: a fiscal gap and generational accounting analysis of the full budget proposal; the same kind of analysis of specific policy changes that would impact revenues or mandatory spending by greater than 0.5% of GDP over the following 10-fiscal year period; and the federal deficit, at current spending levels, in the fiscal year that is 75 years after the fiscal year in which the legislation is being considered, as well as the stock of the debt in that 75th year.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Schock, Aaron [R-IL-18] · 8 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Todd Young (R-IN), Tom Cotton (R-AR)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (4)
- CBO cost estimate
- The Congressional Budget Office's estimate of how a federal bill would change government spending and revenue. CBO is nonpartisan.
- Fiscal year
- The 12-month period a government uses for its budget. The federal fiscal year runs from October 1 to September 30 and is named for the calendar year in which it ends. Most states use July 1 to June 30.
- Obligation
- A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
- Resolution
- A formal statement or decision by a legislative body. Simple resolutions often only express an opinion or set rules for one chamber; they do not become law.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr2967.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>
Record fed-us-cong113-hr2967 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113