Cost Estimate Clarity Act
Budgeting: New Rules for CBO Cost Estimates
The Cost Estimate Clarity Act is currently in the early stages of the legislative process. It has been sent to the House Rules Committee and the House Budget Committee for review. No further actions or votes have been scheduled at this time.
Legislative Progress
While this bill promotes transparency, changes to budget rules are often partisan and rarely pass without a larger deal on government spending.
Key Points
- This bill changes how the Congressional Budget Office (CBO) reports the cost of new laws. It requires them to explain how their standard accounting rules might be hiding the true cost of a bill.
- The CBO often assumes certain programs will continue forever even if they are scheduled to end. This bill would force them to show the difference between that assumption and what the government is actually expected to spend.
- Lawmakers would receive a clear explanation of which specific assumptions are making a bill look cheaper or more expensive than it really is. This aims to prevent budget tricks where costs are hidden by technical rules.
- The goal is to give the public and Congress a more honest look at how new laws will affect the national debt over time by providing a more realistic picture of future spending.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Cost Estimate Clarity Act
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.