Bill Summary
This proposed bill aims to amend the Congressional Budget and Impoundment Control Act of 1974 to allow Congress to request estimates of legislation from reputable accounting firms for budget enforcement purposes. It also states that these estimates can be used in place of estimates from the Congressional Budget Office for various budget-related acts, and defines what is considered a "private reputable accounting firm." This bill would also make a conforming amendment to allow either the House or Senate committee to use these estimates for budget enforcement.
Possible Impacts
1. The legislation could potentially limit the power and influence of the Congressional Budget Office (CBO), as it allows for estimates to be obtained from private accounting firms instead of relying solely on the CBO's estimates. This could result in changes to the budget and budget enforcement processes, potentially affecting the lives of taxpayers and government programs that rely on budget allocations.
2. The use of private reputable accounting firms for budget estimates could also introduce a level of subjectivity and potential bias into the budget process, as different firms may have varying methods and opinions on how to estimate the costs of legislation. This could affect the accuracy and reliability of budget estimates and potentially impact the ability of government programs to receive necessary funding.
3. The legislation may also limit the influence and role of the CBO in the legislative process, potentially impacting the agency's resources and personnel. This could have a ripple effect on the employment and job security of individuals working for the CBO, as well as their ability to provide accurate and timely analysis of legislation for Congress.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2524 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 2524
To amend the Congressional Budget and Impoundment Control Act of 1974
to provide that Congress may request estimates of legislation from
reputable accounting firms for purposes of budget enforcement, and for
other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 31, 2025
Ms. Tenney (for herself and Mr. Collins) introduced the following bill;
which was 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
_______________________________________________________________________
A BILL
To amend the Congressional Budget and Impoundment Control Act of 1974
to provide that Congress may request estimates of legislation from
reputable accounting firms for purposes of budget enforcement, and for
other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Replacing Exploitative Partisan
Estimates with Alternatives by Liquidating Congressional Budget Office
Requirements'' or the ``REPEAL CBO Requirements Act''.
SEC. 2. BUDGET ESTIMATES BY REPUTABLE ACCOUNTING FIRMS.
(a) In General.--Section 402 of the Congressional Budget and
Impoundment Control Act of 1985 (2 U.S.C. 653) is amended--
(1) by striking ``The Director'' and inserting ``(a) in
general.--The Director''; and
(2) by adding at the end the following:
``(b) Estimate by accounting firms.--
``(A) In general.--Notwithstanding any other
provision of law, the chair of any committee of the
House of Representatives or the Senate (except the
Committee on Appropriations of each House) may, instead
of an estimate under subsection (a), obtain an estimate
for any bill or resolution of a public character
reported by such committee from a private reputable
accounting firm.
``(B) Application.--
``(i) In general.--Any estimate obtained
under subparagraph (A) shall be used in lieu of
an estimate prepared by the Congressional
Budget Office under subsection (a) for budget
enforcement with respect to the applicable bill
or joint resolution, including for purposes of
this Act, the Balanced Budget and Emergency
Deficit Control Act of 1985, the Statutory Pay-
As-You-Go Act of 2010, any concurrent
resolution on the budget, the Rules of the
House of Representatives, and the Standing
Rules of the Senate (including for purposes of
reconciliation).
``(ii) CBO estimate not required.--If an
estimate is obtained under subparagraph (A),
then the Office shall not prepare an estimate
for the applicable measure under subsection
(a).
``(C) Definition of private reputable accounting
firm.--In this subsection, the term `private reputable
accounting firm' means any of the ten public accounting
firms registered with the Public Company Accounting
Oversight Board with the largest net revenue during the
previous year.''.
(b) Conforming Amendment.--Section 312(a) of such Act is amended by
adding at the end the following: ``The estimates by a private reputable
accounting firm under section 402(b) may be used by either such
Committee for purposes of carrying out this subsection.''.
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