# Plain Language Summary: REPEAL CBO Requirements Act

Right now, when Congress wants to know how much a new law will cost, they have to use the Congressional Budget Office (CBO)—a nonpartisan government agency that's been doing this job for decades. This bill would change that by letting committee leaders go to private accounting firms instead. Specifically, committee chairs could hire one of the ten biggest accounting companies in America to estimate what a bill would cost, and that private estimate would become the official number used for budgeting decisions. Once a committee uses a private firm's estimate, the CBO wouldn't be allowed to do their own estimate for that bill.

The practical effect is that Congress would have more flexibility in choosing who calculates the price tag on legislation. Supporters might argue this brings in fresh perspectives and competition, while critics worry it could lead to less consistent or more politically favorable estimates. The CBO has a reputation for being independent and nonpartisan, whereas private accounting firms might have different incentives or relationships with the politicians hiring them. This matters because cost estimates directly influence which bills get passed—if a bill looks cheaper, it's more likely to move forward.

This change wouldn't affect appropriations committees (the ones that handle spending bills), so those would still have to use the CBO. For most other committees, though, this gives leadership the option to shop around for estimates. The real-world impact depends on whether committee chairs use this power to get more accurate numbers or to find estimates that support their preferred policies.

REPEAL CBO Requirements Act

Tenney, Claudia

Replacing Exploitative Partisan Estimates with Alternatives by Liquidating Congressional Budget Office Requirements or the REPEAL CBO Requirements ActThis bill allows&nbsp;certain&nbsp;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&nbsp;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.