Sec. 3. Amendment to the Congressional Budget Act of 1974
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Section 402 of the Congressional Budget Act of 1974 ( 2 U.S.C. 653 ) is amended by inserting
(a)after and by adding at the end the following new subsection: Sec. 402. The Director of the Congressional Budget Office shall, to the extent practicable, prepare a ten-year long-term cost benefit analysis for each introduced bill or resolution of a public character that determines its impact on American global competitiveness as defined by the Congressional Budget Office. The Director of the Congressional Budget Office shall devise criteria to evaluate American global competitiveness, including the bill or resolution’s impact on— job creation; economic growth; consumption; investments; and savings. The analysis referred to in paragraph
(1)shall evaluate whether the introduced bill or resolution will positively or negatively impact America’s economic ability to compete globally compared to member nations of the Group of Twenty, or G-20, which comprise of 19 country members and the European Union, accounting 90 percent of global gross domestic product
(GDP)and 80 percent of global trade. .
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Sec. 3
Amendment to the Congressional Budget Act of 1974
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