H.R.2666 - CBO Scoring Accountability Act (119th Congress)
Summary
H.R.2666, the CBO Scoring Accountability Act, aims to amend the Congressional Budget and Impoundment Control Act of 1974. The amendment would require the Congressional Budget Office (CBO) to provide ongoing analysis of major legislation for the first 10 years after enactment. This includes estimating costs, changes in federal revenue, and comparing these figures against previous estimates.
Expected Effects
The bill's enactment would lead to increased transparency and accountability in assessing the fiscal impact of major legislation. It would require the CBO to provide regular updates and explanations for discrepancies between projected and actual costs or revenue changes. This could influence future legislative decisions by providing more accurate and timely fiscal information.
Potential Benefits
- Enhanced transparency in government spending and revenue projections.
- Improved accountability for the CBO's scoring process.
- More informed decision-making by Congress regarding major legislation.
- Early identification of potential discrepancies between projected and actual fiscal impacts.
- Better public understanding of the financial implications of laws.
Most Benefited Areas:
Potential Disadvantages
- Increased workload and resource demands on the CBO.
- Potential for political pressure on the CBO to produce favorable estimates.
- The 10% discrepancy threshold might be too lenient, allowing significant errors to go unaddressed.
- The definition of 'major legislation' based solely on GDP percentage may overlook other significant bills.
- Could lead to an overemphasis on short-term fiscal impacts, neglecting long-term policy considerations.
Constitutional Alignment
The bill aligns with the Constitution's emphasis on transparency and accountability in government spending, although no specific clause is directly applicable. Article I, Section 9, Clause 7, which requires a regular Statement and Account of the Receipts and Expenditures of all public Money, suggests a general constitutional principle of fiscal transparency that this bill supports. The bill does not infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).