New Bill: Representative Warren Davidson introduces H.R. 724: CBO Show Your Work Act

We have received text from H.R. 724: CBO Show Your Work Act. This bill was received on 2025-01-24, and currently has 33 cosponsors.

Here is a short summary of the bill:

The bill titled *CBO Show Your Work Act* proposes changes to how the Congressional Budget Office (CBO) shares its methodologies and data used in its cost analysis and scoring of legislation. Below are the main provisions of the bill:

Requirement for Transparency

The CBO will be mandated to publicly share various fiscal models, policy models, and the routines it uses for data preparation. This includes the tools and techniques utilized to estimate the financial, social, and economic impacts of legislative proposals.

Specific Components to be Published

The CBO must make available:

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  Fiscal Models:
  
  Any models or data preparation routines used in estimating costs and effects of legislation.
  


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  Updates:
  
  Any updates made to these models or routines.
  


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  Computational Details:
  
  Comprehensive information on the computations, including data, programs, models, and assumptions used in preparing cost estimates, enabling external parties to replicate the results.
  

Information on Non-Disclosable Data

If the CBO uses data that cannot be disclosed, it must provide:

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  A complete list of all data variables.
  


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  Descriptive statistics for those variables (like averages and standard deviations) as long as they don't breach confidentiality rules.
  


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  References to the law prohibiting disclosure.
  


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  Contact information for accessing data by those with proper clearance.
  

Effective Date

The changes stipulated in the bill would take effect six months after the bill is enacted.

Purpose of the Bill

The overarching goal of the bill is to enhance accountability and transparency within the CBO and to ensure that external analysts and the public can understand and verify the methods used in legislative cost estimations.

Relevant Companies

None found

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