The BEACON Act creates a new watchdog position called the Inspector General of the Executive Office of the President. This person would be responsible for investigating waste, fraud, and abuse within the President's office, similar to how inspectors general work in other government agencies. The President would appoint this inspector general, and they'd have 120 days to do so after the law passes.

However, this bill gives the President significant power to limit what the inspector general can investigate. If an investigation involves classified information, confidential sources, intelligence matters, or undercover operations, the President can stop the inspector general from pursuing it. When the President does this, they must notify the inspector general within 30 days and explain why. The inspector general then has to tell Congress about the blocked investigation within another 30 days, so lawmakers know when investigations are being shut down.

The inspector general would produce reports twice a year (by April 30 and October 31) detailing their findings and any investigations the President blocked. These reports go to Congress and the President. Additionally, other government inspectors general would audit this new office annually to make sure it's actually able to do its job effectively. The bill also requires the inspector general to evaluate how well the President's office handles classified information and report back on any problems with how documents are being classified or misclassified.