S.2765: Bipartisan Congressional Budget Reform Act

Overview

The Bipartisan Congressional Budget Reform Act (S. 2765) would shift the congressional budget resolution from an annual document to one that covers two years. However, if the Congressional Budget Office projects that the second year’s Debt-to-GDP was higher then year one, it would trigger a new, automatic deficit-reduction through an expedited reconciliation process. If the United States were to go into recession, naturally creating a higher deficit due to lower revenue, this bill would open the door to drastic discretionary spending cuts right when federal investment would be most important.

Source

Our Stance

Oppose

Priority

High

Bill Number

S.2765

Date Introduced

October 31, 2019

Committee

Senate Budget Committee

Bill Status

Out of Committee

Sponsor