Fair-Value Accounting and Budget Act

This bill requires the Congressional Budget Office to provide "fair-value estimates" when looking at federal loan and loan guarantee programs. Fair value means the price that would be paid in a normal transaction between market participants, and these estimates use private-market interest rates instead of Treasury rates to calculate loan program costs. The Congressional Budget Office must include these fair-value estimates in certain reports and budget outlooks, and congressional budget committee chairs must use these estimates when checking if budget rules are being followed. The bill also requires the Office of Management and Budget to give Congress an annual report on fair-value estimates of federal credit program costs.

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