Lubbock Times

Today, President Biden signed H.R. 7032, the Congressional Budget Office (CBO) Data Sharing Act, into law. This bipartisan legislation, supported by Budget Committee Chairman Jodey Arrington (R-TX) and Ranking Member Brendan Boyle (D-PA), marks the first House Budget Committee bill to become law with unanimous congressional support.

The new law expands the CBO’s authority to request and receive data from executive branch agencies while safeguarding sensitive legislative information. This aims to enhance the CBO’s ability to provide Congress with critical analyses, forecasts, and cost estimates, ensuring lawmakers have a comprehensive understanding of the nation’s long-term fiscal health during the legislative process.

Congress reaffirmed its commitment to empower the CBO in providing independent and nonpartisan budget and economic information to support legislative activities.

House Budget Committee Chairman Jodey Arrington stated: “Today serves as a reminder of what we can accomplish when we put the American people first. For the first time ever, a bipartisan House Budget Committee bill has unanimously passed both chambers and was signed into law. The Congressional Budget Office is crucial to the success of policymaking and its responsibility to provide lawmakers accurate and timely information about the cost of legislation allows for better stewardship of tax dollars. I am proud that the President signed this common-sense legislation into law and hope we can continue to push for bipartisan budget process reform legislation. This marks a critical step in the right direction to fix our broken budget process."

Budget Process Reform Task Force Chair Rudy Yakym also commented: “The CBO Data Sharing Act is a good first step towards making sure Congress has the most accurate data available so, in turn, we can make the most informed decisions about how Budget policy will affect the lives of Americans we represent. As Chair of the House Budget Process Reform Task Force, I applaud Chairman Arrington and Ranking Member Boyle for their leadership, and am pleased that our shared commitment to finding commonsense, bipartisan solutions is now reflected in law.”

The CBO Data Sharing Act includes several key provisions:

1. **Clarifies and Expands CBO Authority**: The act amends existing laws to clarify and expand the CBO Director's authority to request data from executive branch agencies. This strengthens their ability to provide accurate nonpartisan analysis based on reliable information.

2. **Maintains Confidentiality**: The act upholds confidentiality laws protecting sensitive information while enhancing data flow.

3. **Safeguards Legislative Intent**: A provision ensures that future legislation cannot limit or modify this enhanced authority unless explicitly stated.

4. **Implements New Reporting Requirement**: The CBO must submit a report within one year detailing data requests made under this new authority and any challenges faced.

These measures aim at ensuring accountability while providing Congress with insights into implementing this measure.