New Fiscal Watchdog Law Demands 10 Years of Post-Game Analysis on Major Legislation

The newly proposed CBO Scoring Accountability Act aims to change how Congress tracks the financial fallout of its biggest decisions. Essentially, this bill forces the government to check its work, requiring the Congressional Budget Office (CBO) to track the real-world costs of major laws for a decade after they pass.

What Counts as a 'Major Law'?

Before we dive into the details, let’s define the target. This new requirement only kicks in for "major legislation," which the bill defines as any law that’s expected to involve mandatory spending or revenue changes equal to or exceeding 0.25 percent of the country’s projected Gross Domestic Product (GDP) for that year. Think of it this way: if a law is big enough to make a noticeable dent in the national economy—something like a massive infrastructure bill or a sweeping tax overhaul—it falls under this new scrutiny. If the CBO scores a bill as meeting that threshold, the clock starts ticking.

The 10-Year Financial Fact-Check

For the first ten years after one of these major laws is enacted, the CBO Director will have to release an annual report. This report isn't just a summary; it’s a direct comparison between the CBO’s initial, pre-vote estimate and the law’s actual financial performance. Specifically, the CBO must track the actual cost or revenue change and compare it directly to their original prediction (Section 2).

This is the policy equivalent of checking the receipt after you leave the store. If the CBO initially said a program would cost $50 billion over five years, this new law requires them to report every year on whether it actually cost $50 billion, $70 billion, or $30 billion. They also have to update their future cost projections based on what they’ve learned so far.

The 10% Rule: Explaining the Surprises

Here’s where the accountability really hits. If the actual cost or revenue change for any specific part of the law is off by 10 percent or more compared to the CBO’s original estimate, the CBO has to provide Congress with a detailed explanation for the discrepancy (Section 2). This means if a program was projected to cost $10 billion but actually cost $11 billion or more, the CBO must formally explain why their crystal ball was cracked.

For busy people, this is a huge potential win for transparency. If a law you voted for or against ends up costing way more than promised, this requirement provides a clear, official paper trail explaining why the numbers went sideways. It creates a valuable feedback loop, potentially leading to more accurate estimates—and therefore, better-informed votes—in the future.

The Agency Burden

While the public benefits from this transparency, federal agencies are the ones who will feel the administrative squeeze. To make these reports accurate, the bill grants the CBO Director the authority to request information and assistance from every federal department, agency, or commission. The agencies must comply with any information the CBO “reasonably ask[s] for” to complete the analysis (Section 2).

This means the Department of Transportation, the Department of Energy, or any other agency implementing a major law will now have a mandatory annual homework assignment: gathering and submitting detailed financial data to the CBO. While this is necessary for accountability, it represents a new compliance and reporting burden on agencies already stretched thin. They will have to dedicate staff and resources to tracking and synthesizing this data, potentially diverting time from other tasks, just to ensure the CBO can check the math.