S. 766: Billion Dollar Boondoggle Act of 2025

The "Billion Dollar Boondoggle Act of 2025" is a proposed legislation that requires annual reporting on government projects that have exceeded their budgets or timelines significantly.

Key Provisions

The bill specifies the following main elements:

• Covered Agencies: It applies to Executive agencies and independent regulatory agencies of the U.S. government.
• Covered Projects: The projects covered by this bill are those that either:
• Are more than five years behind schedule.
• Have exceeded their original cost estimate by at least $1 billion.

Reporting Requirements

Within one year of the bill's enactment, the Director of the Office of Management and Budget (OMB) must issue guidance for covered agencies to submit reports that include:

• A brief description of the project, including its purpose and locations.
• The contract or award number, if applicable.
• The year the project was initiated.
• The federal share of the project's total cost.
• The primary contractors and subcontractors involved.

Additionally, agencies must explain any changes to the project's original scope, including:

• Adjustments to initial requirements.
• The original and current expected completion dates.
• The original and current cost estimates, adjusted for inflation.
• Reasons for any delays or cost increases.
• Any awards or incentive fees granted for the project.

Final Report Submission

The Director of OMB is responsible for compiling and submitting an annual report to Congress, which will also be made available on the OMB website. This report will summarize the information collected from various covered agencies regarding the ongoing projects that meet the criteria outlined in the bill.

Purpose

The primary aim of this legislation is to enhance transparency and accountability for federal projects that experience significant budget overruns or delays, ensuring that taxpayers are informed about how their money is being utilized and managed.

Relevant Companies

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