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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.
Summary
This bill amends the Congressional Budget and Impoundment Control Act of 1974 to allow congressional committee chairs to obtain budget cost estimates from private accounting firms instead of the Congressional Budget Office (CBO). Under the bill, estimates from one of the ten largest public accounting firms registered with the Public Company Accounting Oversight Board could be used in place of CBO estimates for budget enforcement purposes, including under the Balanced Budget Act, the Pay-As-You-Go Act, and congressional budget rules. If a committee obtains a private accounting firm estimate, the CBO would not be required to prepare an estimate for that measure. The provision would apply to all committees except the Committee on Appropriations.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
1 cosponsor
- Rep. Collins, Mike [R-GA-10] (R-GA)
Actions (2)
- Mar 31, 2025 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. · house
- Mar 31, 2025 Introduced in House
Similar bills (6)
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Text versions (1)
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Full text
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.”. <all>
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