Because of the magnitude of its budgetary effects, thislegislation is “major legislation,” as defined in the rules of the House of Representatives.1Hence, ittriggers the requirement that the cost estimate, to the greatest extent practicable, include the budgetary impact ofits macroeconomic effects. However, because of the very short time available to prepare this cost estimate, quantifying and incorporating those macroeconomic effects havenot been practicable.
Rush to legislate doesn't give CBO enough time to project macroeconomic effects as required by House.