Explanation of H.R. 9716 in Layman's Terms
This bill is called the "Increasing Baseline Updates Act" and it aims to make changes to the Congressional Budget and Impoundment Control Act of 1974. The main purpose of the bill is to require the Congressional Budget Office to provide more frequent updates on the baseline budget projections.
Under this bill, the Director of the Congressional Budget Office would be required to submit at least two updates to the budget baseline to the Committees on the Budget of the House of Representatives and the Senate. One of these updates must include the economic data used to calculate it. The bill also requires the President to submit technical budget data to Congress each year by February 1.
Overall, this bill is designed to ensure that Congress has access to more up-to-date and accurate budget information to help make informed decisions about the federal budget.