S.Amdt. 3159

SA 3159. Mr. PORTMAN submitted an amendment intended to be proposed
to amendment SA 3060 proposed by Mr. Wyden to the bill H.R. 3474, to
amend the Internal Revenue Code of 1986 to allow employers to exempt
employees with health coverage under TRICARE or the Veterans
Administration from being taken into account for purposes of the
employer mandate under the Patient Protection and Affordable Care Act;
which was ordered to lie on the table; as follows:

At the end, add the following:

TITLE _--OTHER PROVISIONS

SEC. _01. MACROECONOMIC IMPACT ANALYSES FOR MAJOR REVENUE
LEGISLATION.

(a) In General.--Part A of title IV of the Congressional
Budget Act of 1974 is amended by adding at the end the
following new section:

``macroeconomic impact analysis of major revenue legislation

``Sec. 407.  (a) Joint Committee on Taxation.--The Joint
Committee on Taxation shall, to the extent practicable,
prepare for each major revenue bill or resolution which is--
``(1) reported by the Committee on Ways and Means of the
House of Representatives or the Committee on Finance of the
Senate; or
``(2) considered on the floor of the House of
Representatives or the Senate,
as a supplement to estimates prepared under section 402, a
macroeconomic impact analysis of the budgetary effects of
such bill or resolution for the 10 fiscal-year period
beginning with the first fiscal year for which an estimate
was prepared under section 402 and each of the next three 10
fiscal-year periods. To the extent practicable, the Joint
Committee on Taxation's macroeconomic impact analysis shall
be included in full as part of the Congressional Budget
Office report accompanying such bill or resolution under
section 402. If a macroeconomic impact analysis is not
included as part of the Congressional Budget Office report
relating to a major revenue bill or resolution, the Chairman
of the Committee reporting the bill or resolution shall cause
the analysis to be entered into the Congressional Record of
the Senate and House of Representatives.
``(b) Definitions.--As used in this section:
``(1) Macroeconomic impact analysis.--The term
`macroeconomic impact analysis' means--
``(A) an estimate of the changes in economic output,
employment, interest rates, capital stock, and tax revenues
expected to result from the revenue provisions in the
proposal to which section 201(f) applies;
``(B) an estimate of revenue feedback expected to result
from those revenue provisions; and
``(C) a statement identifying the critical assumptions and
the source of data underlying that estimate, to the extent
necessary to make the models comprehensible to academic and
public policy analysts.
``(2) Major revenue bill or resolution.--The term `major
revenue bill or resolution' means a bill, resolution, or
conference report for which--
``(A) either--
``(i) the sum of the positive changes in revenues resulting
from such measure (not including the impact of any timing
shifts for the due date for estimated corporate income tax
payments) for any fiscal year in the period for which an
estimate is prepared under section 402; or
``(ii) the absolute value of the sum of the negative
changes in revenues resulting from such measure (not
including the impact of any timing shifts for the due date
for estimated corporate income tax payments) for any fiscal
year for which such an estimate is prepared,
is greater than
``(B) 0.25 percent of the current projected gross domestic
product of the United States (as determined by the Bureau of
Economic Analysis of the Department of Commerce) for such
fiscal year.
``(3) Revenue feedback.--The term `revenue feedback' means
changes in revenue resulting from changes in economic growth
as the result of the enactment of any major revenue bill or
resolution.''.
(b) Conforming Amendment.--The table of contents set forth
in section 1(b) of the Congressional Budget and Impoundment
Control Act of 1974 is amended by inserting after the item
relating to section 406 the following new item:
``Sec. 407. Macroeconomic impact analysis of major revenue
legislation.''.
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