This bill matters because it seeks to provide a fuller financial picture of how all parts of the federal government impact the national budget. Currently, official, nonpartisan cost estimates are mostly applied to laws Congress considers. However, executive orders, federal regulations, and court decisions can also have massive financial implications, but their costs are not always transparently estimated by an independent body like the CBO.

If this bill becomes law, voters would get official, independent cost estimates for these significant actions, allowing for a more complete understanding of their effect on federal spending and the national debt. This could lead to more robust public and congressional debate about the fiscal responsibility of decisions made outside of the traditional legislative process. If the bill doesn't pass, these significant non-legislative actions would continue without CBO's official, independent budgetary analysis, potentially leaving a gap in public understanding of their full financial impact.