H.R. 5571 Congress 118 session
Fair-Value Accounting and Budget Act
Fair-Value Accounting and Budget Act This bill requires the Congressional Budget Office (CBO) to provide certain fair-value estimates of federal loan and loan guarantee programs. Under the bill, the fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair-value estimates generally use private-market interest rates to estimate the cost of a loan program rather than rates based on Treasury securities. The bill requires CBO to include fair-value estimates in (1) any estimate prepared for a measure that establishes or modifies a loan or loan guarantee program, and (2) its publication titled The Budget and Economic Outlook. If CBO provides a fair-value estimate pursuant to this bill, the chairs of the congressional budget committees must use the estimate to determine compliance with budget enforcement requirements. The bill also requires the Office of Management and Budget to submit an annual report to Congress on fair-value estimates of the costs of federal credit programs.
Status
- Introduced
- Committee
- Floor vote
- Passed
- Enacted
In committee — last recorded action September 19, 2023
Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Passage likelihood
3% Much lower than most bills at this stage
This is an estimate, not a guarantee. It is computed from the signals listed below and nothing else. It does not account for leadership priorities, floor scheduling, or negotiations that are not in the public record.
What the estimate is based on
- Historical base rate About 4% of introduced federal bills are enacted.
- Current stage Referred to committee.
- Cosponsors 1 cosponsor.
- Days without action No recorded action in 1086 days.
State-level impact
State-level impact data is not available for this bill. The source text does not contain a per-state funding formula or scored breakdown, so no figures are shown.
Official actions
- Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Introduced in House
- Introduced in House