determined on the basis of estimates made by the Senate Committee on the Budget. (d) Repeal In the Senate, section 201 of S. Con. Res. 21 (110th Congress), the concurrent resolution on the budget for fiscal year 2008, shall no longer apply. 4107. Honest accounting: cost estimates for major legislation to incorporate macroeconomic effects (a) CBO and JCT estimates During the 115th Congress, any estimate provided by the Congressional Budget Office under section 402 of the Congressional Budget Act of 1974 ( 2 U.S.C. 653 ) or by the Joint Committee on Taxation to the Congressional Budget Office under section 201(f) of such Act ( 2 U.S.C. 601(f) ) for major legislation considered in the Senate shall, to the greatest extent practicable, incorporate the budgetary effects of changes in economic output, employment, capital stock, and other macroeconomic variables resulting from such major legislation. (b) Contents Any estimate referred to in subsection (a) shall, to the extent practicable, include— (1) a qualitative assessment of the budgetary effects (including macroeconomic variables described in subsection (a)) of the major legislation in the 20-fiscal year period beginning after the last fiscal year of the most recently agreed to concurrent resolution on the budget that sets forth budgetary levels required under section 301 of the Congressional Budget Act of 1974 ( 2 U.S.C. 632 )