Sponsors (5)
The bill strengthens transparency and standardized reporting on large federal projects to improve oversight and budgeting, but imposes administrative costs and risks political pressure and reputational harms that could distort project decisions and contractor markets.
Taxpayers and Congress will receive a regular, public OMB report with standardized data on large federal project schedules and cost overruns, increasing transparency and enabling stronger oversight and accountability.
Federal program managers and taxpayers will benefit from standardized reporting of original vs. current schedules and CPI‑adjusted costs, which can improve budgeting, project planning, and reduce future cost overruns.
Taxpayers and small-business owners will get disclosure of contractor awards and incentive fees, helping identify pay practices that may reward poor performance and promoting fairer contracting.
Local governments and taxpayers could face rushed or cut projects if publicized overruns trigger political pressure to accelerate or terminate programs prematurely, risking worse outcomes or higher long‑term costs.
Federal employees and agency offices will bear added administrative burden to collect and submit detailed project data annually, diverting staff time and resources from other work.
Small-business contractors may suffer reputational harm from disclosed overruns even when causes are beyond their control, potentially reducing competition and raising contract prices.
Based on analysis of 2 sections of legislative text.
Requires OMB to direct federal agencies to annually report projects >5 years late or with cost overruns ≥ $1 billion and publish an annual OMB compilation.
Requires the Office of Management and Budget (OMB) to issue guidance within one year directing executive and independent federal agencies to annually report large, troubled projects — those more than five years behind schedule or with cost overruns of at least $1 billion. OMB must compile those agency submissions into an annual report, provide it to Congress, and publish it on OMB’s website. The guidance must define covered projects, list specific data agencies must submit (descriptions, updated schedules, CPI-adjusted cost figures, contractor information, scope changes, explanations for delays/overruns, and award-incentive details), and establish the annual reporting process; the law creates reporting obligations but does not appropriate new funds or add penalties.
Introduced February 27, 2025 by Joni Ernst · Last progress December 15, 2025