REPEAL CBO Requirements Act

The "REPEAL CBO Requirements Act" proposes significant changes to how Congress obtains budget estimates for legislation. It amends the Congressional Budget and Impoundment Control Act of 1974 to permit the chair of any House or Senate committee, excluding Appropriations, to seek a budget estimate for any public bill or resolution from a private reputable accounting firm . Crucially, these estimates from private firms would be used in lieu of those prepared by the Congressional Budget Office (CBO) for all budget enforcement purposes. This includes compliance with various budget laws, concurrent resolutions on the budget, and the rules of both chambers, effectively sidelining CBO's analysis when a private estimate is chosen. If a committee opts for a private firm's estimate, the CBO would then be explicitly relieved of its duty to provide its own assessment for that specific measure. A "private reputable accounting firm" is defined as one of the ten largest public accounting firms, based on net revenue, registered with the Public Company Accounting Oversight Board.