|You might favor this bill if:
► You believe that a daily report should be made available to Congress members detailing the impact of the government shutdown on the nation's economy. This is to include any decrease in GDP, the dollar value the Small Business Administration was unable to provide, the amount of revenue lost by the National Park Service, and the overall revenue lost in tourism and travel because of the government shutdown.
|You might oppose this bill if:
► You believe Congress members should not be made aware of the daily impact the government shutdown has on the nation's economy via a report made by the Congressional Budget Office.
The Government Shutdown Impact Report Act would require the Congressional Budget Office (CBO) to submit daily reports to Congress on the impact and cost of a government shutdown on the nation’s economy.
The daily reports would include:
- An estimate of the economic output lost on that day as the result of the government shutdown;
- An estimate of any decrease in the Gross Domestic Product (GDP) for the quarter that will occur as the result of the government shutdown;
- The value of any assistance, including loans, grants, and contracts, that the Small Business Administration (SBA) was unable to provide as a result of the government shutdown;
- The amount of any revenue for the National Park Service that was lost on that day as the result of the government shutdown; and
- An estimate of revenue lost on that day because of the effects of the government shutdown on tourism and travel to and within the United States.
Over 800,000 federal employees have not received a paycheck since the beginning of the year because of the current government shutdown. This act would create daily reports on not only the impact on the American economy, but also on the impact on small businesses, the National Park Service, travel, and tourism. In 2013, the government shutdown cost the American economy as estimated $24 billion, according to Standard and Poor’s Ratings Services.
“We began the new year with a government shutdown that is impacting the livelihood of hundreds of thousands of hardworking Americans. We were elected to serve as good stewards of our nation and our economy, but this reckless political stalemate does nothing but harm our standing in the world and devastate local communities,” said Rep. O’Halleran, original sponsor of the legislation. “The American people are being undermined by partisan gridlock, and they deserve to know what it is costing our nation. This commonsense legislation will shine a light on how a government shutdown affects our economy.”
Sponsored by: Rep. O'Halleran, Tom [D-AZ-1].
Cosponsored by: 0 Rep / 18 Dem.