This bill lets the chair of any House or Senate committee (except the Appropriations Committee) obtain a cost estimate for a reported bill or public resolution from a private "reputable accounting firm" instead of the Congressional Budget Office (CBO). If a committee obtains such an estimate, that private estimate may be used in place of a CBO estimate for budget enforcement rules and related procedures (including the Balanced Budget and Emergency Deficit Control Act, the Statutory Pay-As-You-Go Act, budget resolutions, House and Senate rules, and reconciliation). The bill defines "private reputable accounting firm" as any of the ten public accounting firms registered with the Public Company Accounting Oversight Board that had the largest net revenue in the prior year. The bill also makes a conforming change so these private estimates may be used by either Budget Committee for certain enforcement purposes.
The bill changes which organization's cost estimates Congress may use for enforcing budget rules. The text does not itself change specific benefit programs, tax rules, or spending levels. There is no direct action required by members of the public from the bill text alone.
No publicly available information on budgetary costs, savings, or other financial effects is included in the bill text provided.
No publicly available information.
No publicly available information.