Section 1. Short title
This Act may be cited as the Increasing Baseline Updates Act.
Section 2. Congressional Budget Office updates to baseline
Section 202(e) of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 602(e)) is amended by adding at the end the following:
(A) The Director shall, to the extent practicable, submit to the Committees on the Budget of the House of Representatives and the Senate at least two updates to the baseline submitted under paragraph (1). At least one of the updates shall include economic data used by the Director to calculate such update.
(B) Nothing in this paragraph shall be construed to limit the Director from providing any other update to the baseline during such year.
Section 3. Annual technical budget data submission by the President
Section 1106 of title 31, United States Code, is amended by adding at the end the following:
(d) On or before February 1 of each calendar year, the President shall submit to Congress technical budget data for the fiscal year beginning in the ensuing calendar year, which shall include up-to-date estimates for current year and prior year data and credit reestimates for the current year (as included in the Federal credit supplement of such budget).