6.4: Budget Concepts

REVIEW AND REFORM BUDGET CONCEPTS.

Other Information:

Current scoring rules and definitions cause policy makers to undervalue some policies and overvalue others. The Commission recommends a complete review of all budget scoring practices (“budget concepts”) by the budget committees, the Congressional Budget Office, and the Office of Management and Budget. Changes should aim to more accurately reflect the true cost of government liabilities, including by considering accrual accounting, risk-adjusted credit reforms, and similar concepts. In addition, the assessment should also include a review of current scorekeeping practices concerning program integrity savings and to what extent budgetary scoring practices should be updated to more accurately reflect savings from provisions designed to combat fraud and produce future savings. In addition, scoring agencies should review the possible benefit of providing secondary budget estimates to certain major legislation which more fully reflect their potential economic impact.

Stakeholder(s):

• Congressional Budget Office (CBO)


• Office of Management and Budget (OMB)

Indicator(s):

Indicator:1

Content