CBO Show Your Work Act

Bill: 117-s-793
Sponsor: full_name: Sen. Lee, Mike [R-UT]
Introduced: 2021-03-17
Policy area: Economics and Public Finance
Subjects: Budget process

Congressional Budget Office (CBO)

Congressional agencies

Congressional oversight

Economic performance and conditions

Government information and archives

Legislative rules and procedure
Latest action: action_date: 2021-03-17
text: Read twice and referred to the Committee on the Budget.

Summaries:
action_date: 2021-03-17
action_desc: Introduced in Senate
text: <p><b>CBO Show Your Work Act </b></p> <p>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. </p> <p>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. </p> <p>For data that may not be disclosed, the CBO must make available to Congress and the public</p> <ul> <li> a complete list of all data variables for the data; </li> <li> descriptive statistics for all data variables for the data, to the extent that the descriptive statistics do not violate the rule against disclosure; </li> <li> a reference to the statute requiring that the data not be disclosed; and </li> <li> contact information for the individual or entity who has unrestricted access to the data. </li> </ul>

tv_txt: II 117th CONGRESS 1st Session S. 793 IN THE SENATE OF THE UNITED STATES March 17 (legislative day, March 16), 2021 Mr. Lee (for himself, Mr. Blunt , Mr. Braun , Mr. Cassidy , Mr. Crapo , Mr. Daines , Mr. Hawley , Mr. Hagerty , Mr. Inhofe , Mr. Lankford , Mr. Paul , Mr. Risch , Mr. Rubio , and Mr. Scott of Florida ) introduced the following bill; which was read twice and referred to the Committee on the Budget A BILL To require the Congressional Budget Office to make publicly available the fiscal and mathematical models, data, and other details of computations used in cost analysis and scoring.

1. Short title This Act may be cited as the CBO Show Your Work Act . 2. Publication of Congressional Budget Office models (a) In general Section 402 of the Congressional Budget Act of 1974 ( 2 U.S.C. 653 ) is amended— (1) by striking The Director and inserting the following: (a) In general The Director ; and (2) by adding at the end the following: (b) Publication of models and data The Director of the Congressional Budget Office shall make available to Members of Congress and make publicly available on the website of the Congressional Budget Office— (1) each fiscal model, policy model, and data preparation routine used by the Congressional Budget Office in estimating the costs and other fiscal, social, or economic effects of legislation, including estimates prepared under subsection (a); (2) any update of a model or routine described in paragraph (1); (3) subject to paragraph (4), for each estimate of the costs and other fiscal effects of legislation, including estimates prepared under subsection (a), the data, programs, models, assumptions, and other details of the computations used by the Congressional Budget Office in preparing the estimate, in a manner sufficient to permit replication by individuals not employed by the Congressional Budget Office; and (4) for any data that is required not to be disclosed by the Congressional Budget Office— (A) a complete list of all data variables for such data; (B) descriptive statistics for all data variables for such data (including averages, standard deviations, number of observations, and correlations to other variables), to the extent that the descriptive statistics do not violate the rule against disclosure; (C) a reference to the statute requiring that the data not be disclosed; and (D) information regarding how to contact the individual or entity who has unrestricted access to the data. . (b) Effective date The amendments made by subsection (a) shall apply on and after the date that is 6 months after the date of enactment of this Act.