Press Releases

Washington, D.C. – On Wednesday, the Congressional Budget Office Oversight Act introduced by Rep. Ralph Norman (SC-05), Rep. Lisa McClain (MI-09), and Rep. Greg Lopez (CO-04) passed the House Budget Committee by a vote of 21-12. This legislation would mandate the Congressional Budget Office director to provide testimony before Congressional Budget Committees no less than twice per year.

Background

The Congressional Budget Office (CBO) is non-partisan and conducts independent analyses of budget and economic impacts of proposed legislation.

Congressional Budget Committees in the House and Senate have sole jurisdiction over the CBO but neither are required to hold regular oversight hearings. Over the last decade, the Senate Budget Committee held five CBO oversight hearings while the House Budget Committee held eight. The last attempt for reform of these oversight hearings was in 2018.

The Congressional Budget Office Oversight Act resolves this issue by requiring the CBO Director to testify before Congressional Budget Committees at least twice in a calendar year. This would allow Congress to review the accuracy of baseline projections and estimates prepared by the CBO, as well as any issues the Committees deem appropriate. Chairmen of the Budget Committees can often change and thus priorities within the committees change as well. The Congressional Budget Office Oversight Act will ensure the long-term stability of the CBO Director appearing regularly leading to a more educated Committee and broader conference.

Statements

"Perhaps the greatest threat to the future of this country is our outrageous debt of $35 trillion and counting." said Rep. Ralph Norman. "If we are serious about getting our fiscal house in order, it begins with the director of the CBO appearing regularly. It is the bare minimum we can require of the CBO - the more oversight the better."

"As we make spending decisions, it’s vital we have unbiased, accurate information and constant participation from the Congressional Budget Office,” said Rep. Lisa McClain. “We must be good stewards of taxpayer dollars, and that starts with holding the CBO responsible as Congress’s chief budgetary analyst. Government agencies are answerable to the American people, and I will always fight for greater accountability."

"Reigning in government waste starts with proactive congressional oversight. For years, the Congressional Budget Office has consistently created inaccurate budget estimates and it is time for CBO leadership to be held accountable by Congress," said Rep. Greg Lopez.