119th Congress Economics and Public Finance
H.R. 2524: REPEAL CBO Requirements Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill allows certain congressional committees to obtain cost estimates for legislation from private reputable accounting firms rather than the Congressional Budget Office (CBO).
Under current law, CBO is generally required to produce cost estimates for most bills that are reported by congressional committees. This bill allows chairs of congressional committees (except the appropriations committees) to obtain estimates for reported legislation from a private reputable accounting firm instead of CBO. Under the bill, a private reputable accounting firm means any of the 10 public accounting firms registered with the Public Company Accounting Oversight Board with the largest net revenue during the previous year.
If a committee chair obtains an estimate from a private accounting firm pursuant to this bill, (1) the estimate must be used for budget enforcement purposes, and (2) CBO may not prepare an estimate for the applicable measure.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Mike Collins R-GAOriginal
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History
- Introduced in the House by Claudia Tenney.
Show the full action history (2 actions)
- Introduced in House
- 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.