CBO Scoring Accountability Act
The CBO Scoring Accountability Act would require the Congressional Budget Office (CBO) to publish a mandatory, ongoing supplemental analysis for “major legislation” after it becomes law. For the first 10 years after enactment, CBO must annually analyze the legislation’s actual costs and changes in federal revenues, compare those results to prior estimates, and update the original cost and revenue estimates as needed. If there are material discrepancies (defined as at least a 10% difference between actual outcomes and prior estimates), CBO must explain the cause to Congress. Agencies would be required to cooperate by providing information to assist CBO in this analysis. The act also defines “major legislation” as any bill or joint resolution projected to produce outlays or revenue effects equal to or greater than 0.25% of the current projected GDP for that year.
Key Points
- 1Mandatory annual supplemental analysis: CBO must, within 10 years of enactment, publish an annual analysis of major legislation’s outcomes, including costs and revenue changes, and updates to estimates.
- 2Comparison and updates: The analysis must compare current results with previous estimates and update any relevant cost or revenue projections.
- 3Accountability reporting: If there is a discrepancy of 10% or more between actual outcomes and prior estimates, CBO must provide a Congress-facing explanation of the cause.
- 4Definition of major legislation: Any bill or joint resolution with projected mandatory outlays or revenue effects at or above 0.25% of the current projected GDP for the year.
- 5Agency cooperation: Federal departments and agencies must provide information and assistance to CBO to support the supplemental analysis.