Bill
HR 991
HR 991 improves federal cost estimates by standardizing procedures, enhancing transparency, and training staff, ensuring lawmakers and the public access reliable financial data.
The Cost Estimates Improvement Act (HR 991) aims to enhance the accuracy and transparency of cost estimates associated with federal legislation. The bill seeks to ensure that lawmakers and the public have access to reliable financial data when evaluating the potential fiscal impacts of proposed legislation.
Enhanced Cost Estimation Procedures: The bill proposes the establishment of standardized procedures for creating cost estimates for all federal legislation. This includes guidelines for assessing both direct and indirect costs.
Increased Transparency: HR 991 mandates that all cost estimates be made publicly available in a timely manner, allowing for greater scrutiny and understanding of the financial implications of legislative proposals.
Training and Resources: The bill calls for the development of training programs for congressional staff and relevant agencies to improve their ability to produce accurate cost estimates.
Periodic Review: It requires periodic reviews of existing cost estimation methodologies to ensure they remain relevant and effective in light of changing economic conditions and fiscal policies.
Legislators: Members of Congress will benefit from improved cost estimates, enabling them to make more informed decisions when crafting and voting on legislation.
Government Agencies: Agencies responsible for budget and financial analysis will be required to adopt new practices and methodologies, potentially impacting their operations and resource allocation.
Public and Stakeholders: Increased transparency will empower the public, advocacy groups, and other stakeholders to better understand the financial implications of proposed laws, fostering informed public discourse.
Introduced Date: The bill was introduced in the House on February 5, 2025.
Committee Referrals: Upon introduction, HR 991 was referred to the Committee on Rules and the Committee on the Budget. The Speaker will determine the period for consideration of the bill by these committees.
The Cost Estimates Improvement Act (HR 991) represents a significant step towards improving the fiscal accountability of federal legislation. By establishing standardized procedures and enhancing transparency, the bill aims to provide lawmakers and the public with the necessary tools to evaluate the financial impacts of legislative proposals effectively. As the bill progresses through the legislative process, its potential to reshape cost estimation practices in Congress will be closely monitored.
Compiled from official sources — confirm details with the bill’s official record.
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