Sponsors (5)
The bill increases standardized transparency and congressional oversight of major federal project cost overruns and delays—likely reducing waste and improving management—but imposes reporting burdens, reputational risks for contractors, and could inadvertently reveal sensitive program details.
Congress can better identify and target oversight or corrective action because OMB must compile standardized data on significant cost overruns and multi‑year delays.
Agencies will be prompted to document scope changes and funding shortfalls, which may improve project management and reduce future wasteful spending.
Taxpayers gain greater transparency about large delayed or overbudget federal projects through an annual OMB report listing causes, costs, and contractors.
Public release of detailed project information could expose sensitive contracting or security details for certain defense or remediation projects, complicating program execution.
Covered agencies face added administrative burden to collect, CPI‑adjust, and annually report detailed project data, diverting staff time and resources.
Contractors and grant recipients may face increased scrutiny and reputational harm from public reporting of awards, bonuses, and reasons for cost growth.
Based on analysis of 2 sections of legislative text.
Requires OMB to direct agencies to annually report detailed information on projects >5 years late or with cost overruns ≥$1B and for OMB to publish a compiled report to Congress.
Introduced February 27, 2025 by Joni Ernst · Last progress December 15, 2025
Requires the Director of the Office of Management and Budget to issue guidance within one year directing executive and independent agencies to annually report detailed information on large federal projects that are either more than five years behind schedule or have cost overruns of $1 billion or more. OMB must compile those agency submissions into a single annual report for Congress and publish it on OMB's website; the requirement specifies many project-level data fields but does not authorize new funding.