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S. 2371: Accurate Budgeting Act

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S. 2371: Accurate Budgeting Act

113th Congress · introduced 2014-05-21 · Economics and Public Finance · Latest: Read twice and referred to the Committee on the Budget.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2014-05-21 · official record
  2. Who proposed it: Sen. Portman, Rob [R-OH] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on the Budget. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Accurate Budgeting Act

Plain summary

Accurate Budgeting Act - Amends the Congressional Budget Act of 1974 to require the Joint Committee on Taxation to prepare for each major revenue bill or resolution, reported by specified congressional tax committees or considered on the floor of either chamber, as a supplement to Congressional Budget Office (CBO) cost estimates, a macroeconomic impact analysis of the budgetary effects of the legislation for: (1) the 10-fiscal year period beginning with the first fiscal year for which such estimate was prepared, and (2) each of the next three 10-fiscal year periods. Defines "major revenue bill or resolution" as a bill, resolution, or conference report for which either: the sum of the positive changes in revenues resulting from such measure (not including the impact of any timing shifts for the due date for estimated corporate income tax payments) for any fiscal year in the period for which a CBO cost estimate is prepared, or the absolute value of the sum of the negative changes in revenues resulting from such measure, is greater than 0.25% of the current projected U.S. gross domestic product (GDP) for that fiscal year.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

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.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Accurate Budgeting Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Portman, Rob [R-OH] · 18 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Mike Crapo (R-ID), John Barrasso (R-WY), John Thune (R-SD), Tim Scott (R-SC), Mike Lee (R-UT), Deb Fischer (R-NE)

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)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
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.
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

Record fed-us-cong113-s2371 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113