REPEAL CBO Requirements Act

HR 2524, the "REPEAL CBO Requirements Act," would allow congressional committees (excluding Appropriations committees) to replace Congressional Budget Office (CBO) budget estimates with estimates from private accounting firms. Specifically, committee chairs could obtain budget cost estimates from the top 10 accounting firms by revenue instead of the CBO for any bill or resolution, using these private estimates for budget enforcement under key laws like the Balanced Budget Act and Pay-As-You-Go rules. The bill requires that if a private firm's estimate is used, the CBO would no longer prepare an estimate for that measure. This change would shift the responsibility for budget scoring from the nonpartisan CBO to for-profit accounting firms for most legislative measures.