U.S. Rep. Reid Ribble (WI-08) recently released a statement concerning the Congressional Budget Office changes.
“I look forward to working with the very qualified Keith Hall in his new role as CBO Director, and working with my colleagues on passing our bipartisan Long-Term SCORE Act, which would be another step forward in allowing the CBO to fulfill its mission of providing the kind of analysis Congress needs to make sound financial decisions,” Ribble said.
The Long-Term SCORE Act, HR 282, which is also known as “Studies of Comprehensive Outcomes and Returns to the Economy,” is a bipartisan act that address Medicare spending. As a result, more than three out of every four dollars that Medicare spends are dedicated to chronic diseases, most of which are preventable.
Investing small amounts in short-term methods, in order to make these diseases less prevalent, may have positive, long-term results for taxpayers. Unfortunately, however, the Congressional Budget Office currently creates ten-year budget estimates, which do not account for the full costs and benefits after the initial time period.
The Long-Term SCORE Act could be the solution. The act develops an office that is separate from the Congressional Budget Office. This second office may provide estimates for up to 50 years from now, benefitting people’s lives and increasing the impact of taxpayer dollars.