Sponsors (5)
The bill improves transparency and standardized reporting on major federal project cost and schedule problems—helping taxpayers and Congress detect and oversee overruns—but it creates new administrative costs, disclosure risks for contractors, and potential political pressure that could disrupt long‑running programs.
Taxpayers will gain clearer, public visibility into large, delayed, or over‑budget federal projects through annual OMB reports and required public posting.
Congress will receive standardized, comparable data on cost growth and schedule slips in major federal programs, improving legislative oversight and funding decisions.
Federal agencies will have clearer, standardized reporting rules (e.g., CPI‑U adjustment and required fields), which can improve project management and accountability across executive and independent agencies.
Public reporting of project delays and cost overruns may create political pressure to cut or reprogram funding, risking disruption of long‑running projects and services.
Federal agencies will incur additional administrative burden and costs to collect, adjust, and submit detailed project data annually, which could divert staff time and resources or raise implementation costs.
Contractors and recipients will face increased scrutiny and disclosure requirements about contracts, awards, and incentives, potentially exposing sensitive commercial information.
Based on analysis of 2 sections of legislative text.
Requires OMB to direct agencies to annually report detailed data on projects >5 years late or ≥$1B over original cost and to publish a consolidated annual report.
Requires the Office of Management and Budget (OMB) to issue guidance within one year requiring executive and independent agencies to annually report standardized data on any agency-funded project that is either more than five years behind schedule or has cost overruns of $1 billion or more. OMB must compile the agency submissions and publish an annual public report for Congress and on OMB’s website describing project purpose, locations, costs (original and current, CPI‑U adjusted), schedule, contractors, scope changes, explanations for delays/cost increases, and awards/incentives.
Official title: Require an annual report of taxpayer-funded projects that are over budget and behind schedule.
Introduced February 27, 2025 by Joni Ernst · Last progress December 15, 2025