The estimated cost would be arrived at by dividing the projected deficit by the number of taxpayers who file a federal income tax return. If the president’s budget proposal anticipates a surplus — meaning the government takes in more tax revenue than it spends — the proposal wouldn’t need to estimate the cost.
What is House Bill H.R. 1315?
Cost of House Bill H.R. 1315
In-Depth: Sponsoring Rep. Luke Messer (R-IN) believes this bill would help citizens understand the the cost to taxpayers that comes with deficit spending and a rising national debt:
“This bill won’t solve our nation’s fiscal problems or prevent the government from spending money it doesn’t have. But making this information more easily accessible will help us and our constituents better understand the impact of budgets that never balance.”
In Rep. Messer’s introductory press release, it was noted that the $474 million deficit embedded in President Obama’s fiscal year 2016 budget request would cost each taxpayer about $3,118.
In the previous session of Congress, the House passed this legislation’s predecessor by a 392-28 margin, with majorities of both parties voting in favor.
Media:Summary by Eric Revell
(Photo Credit: Flickr user kenteegardin)
To amend section 1105(a) of title 31, United States Code, to require that annual budget submissions of the President to Congress provide an estimate of the cost per taxpayer of the deficit, and for other purposes.
- Not enactedThe President has not signed this bill
- The senate has not voted
Committee on the Budget
- senate Committees
- The house Passed October 20th, 2015Passed by Voice Vote
Committee on the BudgetIntroducedMarch 4th, 2015
- house Committees