Rep. Michael Cloud, R-Texas, told Newsmax on Thursday that the bipartisan bill he co-sponsored that would force Congress to consider government interest payments when approving any new spending will help legislators “get our fiscal house in order.”
The Cost Estimates Improvement Act would require “cost estimates prepared by the Congressional Budget Office or the Joint Committee on Taxation to include the costs of servicing the public debt,” according to the official summary.
Cloud said on “Newsline” that he introduced the bill because “one of the most important things we have to do right now … [is] get our fiscal house in order.”
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