CBO Oversight Act

HR 9714, the CBO Oversight Act, requires the Congressional Budget Office (CBO) to provide testimony at two annual hearings before the House and Senate Budget Committees upon request by their chairs. This bill directly affects the CBO and the Budget Committees by mandating regular testimony sessions each year. The key provision adds a new section to the 1974 Budget Act, requiring the CBO Director to testify at these hearings, which can address any topic the committees choose, including reviewing the accuracy of the CBO's previous year's budget baseline projections. The bill does not change the CBO's analytical work but establishes a formalized process for congressional oversight of its budget estimates.