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GOP introduces budget reform bills

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Other bills introduced include the Legally Binding Budget Act, by Rep. Diane BlackDiane Lynn BlackBottom line Overnight Health Care: Anti-abortion Democrats take heat from party | More states sue Purdue over opioid epidemic | 1 in 4 in poll say high costs led them to skip medical care Lamar Alexander's exit marks end of an era in evolving Tennessee MORE (Tenn.), that makes the budget a law signed by the president; a bill by Rep. Rob WoodallWilliam (Rob) Robert WoodallMcCarthy guarantees GOP will take back House in 2022 Rundown of the House seats Democrats, GOP flipped on Election Day Bustos won't seek to chair DCCC again in wake of 2020 results MORE (Ga.) that would remove automatic inflation increases in discretionary accounts; and the Review Every Dollar Act by Rep. Jason ChaffetzJason ChaffetzThe myth of the conservative bestseller Elijah Cummings, Democratic chairman and powerful Trump critic, dies at 68 House Oversight panel demands DeVos turn over personal email records MORE (Utah), which would sunset all federal programs periodically.

Also in the package are Rep. Scott GarrettErnest (Scott) Scott GarrettBiz groups take victory lap on Ex-Im Bank Export-Import Bank back to full strength after Senate confirmations Manufacturers support Reed to helm Ex-Im Bank MORE’s (N.J.) bill to change the way Fannie Mae and Freddie Mac are evaluated for budgetary purposes and Rep. Tom Price’s (Ga.) bill that would require the Congressional Budget Office to examine the dynamic effects of policies on growth and incorporate them into the scoring of legislation. Such a change would tend to show greater deficit reduction from tax cuts favored by Republicans.

“The Congressional Budget Office uses only a ‘static’ model to measure the fiscal impact of a given piece of legislation. That is a model that has proven to be incapable of providing the type of macroeconomic diagnosis folks need to make sure we are pursuing policies that will help generate economic opportunity and bring down the nation’s debt,” Price said.

The House GOP is meeting next week to determine what its “ask” will be for the raising this fall of the nation’s debt ceiling. It remains to be seen if any of the budget process reforms will be included in the House demands.

In January, the debt ceiling was raised once the Senate agreed to a No Budget, No Pay bill that would have withheld lawmaker pay if each chamber had not passed a budget this year.