To amend the Congressional Budget and Impoundment Control Act of 1974 to provide that Congress may request estimates of legislation from reputable accounting firms for purposes of budget enforcement, and for other purposes.

4/1/2025, 8:06 AM

Summary of Bill HR 2524

Bill 119 hr 2524, also known as the Congressional Budget and Impoundment Control Act of 1974, aims to amend the existing legislation to allow Congress to request estimates of proposed legislation from reputable accounting firms. This amendment is intended to enhance budget enforcement by providing Congress with accurate and reliable information on the potential financial impact of proposed bills.

The bill recognizes the importance of having accurate cost estimates for proposed legislation in order to make informed decisions about budget allocations. By allowing Congress to seek estimates from reputable accounting firms, lawmakers can better understand the potential fiscal implications of proposed bills and make more informed decisions about budget priorities.

In addition to providing estimates from accounting firms, the bill also includes provisions for other purposes related to budget enforcement. These additional provisions are aimed at improving the overall budget process and ensuring that Congress has the necessary tools to effectively manage the federal budget. Overall, Bill 119 hr 2524 seeks to enhance budget enforcement by providing Congress with access to accurate and reliable cost estimates for proposed legislation. By allowing lawmakers to make more informed decisions about budget allocations, this bill aims to improve the overall budget process and ensure responsible fiscal management.

Congressional Summary of HR 2524

Replacing Exploitative Partisan Estimates with Alternatives by Liquidating Congressional Budget Office Requirements or the REPEAL CBO Requirements Act

This bill allows certain congressional committees to obtain cost estimates for legislation from private reputable accounting firms rather than the Congressional Budget Office (CBO).

Under current law, CBO is generally required to produce cost estimates for most bills that are reported by congressional committees. This bill allows chairs of congressional committees (except the appropriations committees) to obtain estimates for reported legislation from a private reputable accounting firm instead of CBO. Under the bill, a private reputable accounting firm means any of the 10 public accounting firms registered with the Public Company Accounting Oversight Board with the largest net revenue during the previous year.

If a committee chair obtains an estimate from a private accounting firm pursuant to this bill, (1) the estimate must be used for budget enforcement purposes, and (2) CBO may not prepare an estimate for the applicable measure.

Current Status of Bill HR 2524

Bill HR 2524 is currently in the status of Bill Introduced since March 31, 2025. Bill HR 2524 was introduced during Congress 119 and was introduced to the House on March 31, 2025. Bill HR 2524's most recent activity was Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of March 31, 2025

Bipartisan Support of Bill HR 2524

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Policy Area and Potential Impact of Bill HR 2524

Primary Policy Focus

Alternate Title(s) of Bill HR 2524

To amend the Congressional Budget and Impoundment Control Act of 1974 to provide that Congress may request estimates of legislation from reputable accounting firms for purposes of budget enforcement, and for other purposes.