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Increased Oversight of Congressional Budget Office Financial Forecasts and Spending.

This law increases scrutiny over the Congressional Budget Office (CBO), the non-partisan agency that calculates the cost of all legislation and forecasts the nation's finances. The CBO Director must now testify at two annual hearings before budget committees to explain their estimates. This change benefits citizens by ensuring that the financial data used for major public spending and tax decisions is more rigorously reviewed, increasing budgetary transparency.
Key points
The Director of the Congressional Budget Office (CBO) is required to testify at two annual Congressional hearings upon request from committee chairs.
The hearings focus on reviewing the accuracy of the CBO's financial projections and estimates, which are crucial for federal budget decisions and funding public programs.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_9714
Sponsor: Rep. Norman, Ralph [R-SC-5]
Process start date: 2024-09-20
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CBO Oversight Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9714.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-09-20.

What are the main provisions?

Key points include:

  • The Director of the Congressional Budget Office (CBO) is required to testify at two annual Congressional hearings upon request from committee chairs.
  • The hearings focus on reviewing the accuracy of the CBO's financial projections and estimates, which are crucial for federal budget decisions and funding public programs.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Norman, Ralph [R-SC-5].

What is the latest detailed status?

The latest detailed status is: Ordered to be Reported by the Yeas and Nays: 21 - 12.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Public Investments