CBO Show Your Work Act

CBO Show Your Work Act

This bill requires the Congressional Budget Office (CBO) to make available to Congress and the public each fiscal model, policy model, and data preparation routine that the CBO uses to estimate the costs and other fiscal, social, or economic effects of legislation.

For each estimate of the costs and other fiscal effects of legislation, the CBO must also disclose, in a manner sufficient to permit replication by individuals not employed by the CBO, the data, programs, models, assumptions, and other details of the computations used to prepare the estimate.

For data that may not be disclosed, the CBO must make available to Congress and the public

• a complete list of all data variables for the data;
• descriptive statistics for all data variables for the data, to the extent that the descriptive statistics do not violate the rule against disclosure;
• a reference to the statute requiring that the data not be disclosed; and
• contact information for the individual or entity who has unrestricted access to the data.

Bill 118 hr 1492, also known as the CBO Show Your Work Act, was introduced in the US Congress with the aim of increasing transparency and accountability in the Congressional Budget Office (CBO). The bill requires the CBO to provide a detailed explanation of the methods and data used to calculate cost estimates for proposed legislation.

Under the provisions of the bill, the CBO must disclose any assumptions made in their calculations, as well as any uncertainties or limitations in the analysis. This information must be made publicly available on the CBO's website, allowing lawmakers and the general public to better understand the basis for the cost estimates provided by the CBO.

The CBO Show Your Work Act also requires the CBO to consult with outside experts and stakeholders when developing cost estimates for complex or controversial legislation. This is intended to ensure that the CBO's analysis is thorough and unbiased, and that all relevant perspectives are taken into account. Overall, the bill aims to promote transparency and accountability in the budgeting process, and to provide lawmakers and the public with the information they need to make informed decisions about proposed legislation.