Andrea Joy Campbell: “The amendment that I offer would permit an additional form of understanding and analysis of the economic effect of…”

“The amendment that I offer would permit an additional form of understanding and analysis of the economic effect of legislation that we pass here. I begin by emphasizing the amendment does not replace any existing method at all. But in addition to existing methods, occasionally it is appropriate to consider what is called a dynamic economic model, and this has application on the tax side as well as on the expenditure side. Most of the literature in the academic world of economics has dealt with the dynamic effects on taxes or tax cuts, but I have been careful in this amendment to specify that this additional method shall apply to the dynamic effect of expenditures as well. Mr. Chairman, I think that it is important that we have that kind of information available. This amendment allows that the chairman of the Committee on the Budget can request CBO, in addition to all the other means of analysis of a fiscal spending bill, to perform a dynamic economic analysis as well; the chairman of the Committee on Ways and Means, similarly, in addition to all other forms of economic analysis, can request dynamic economic modeling on tax bills as well.”