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What this bill does
AI plain-language summaryThis bill would require the Congressional Budget Office to do extra work tracking major laws after they are passed. Major laws are those that would spend or collect money equal to at least 0.25% of the country's total economic output for that year. For 10 years after a major law is enacted, the Congressional Budget Office would have to create a yearly public report showing how much the law actually costs and changes federal revenue, compare those numbers to earlier estimates, and update the estimates. The Congressional Budget Office would also have to report to Congress when the actual costs or revenue changes differ from estimates by 10% or more.
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