This legislation, titled the "Billion Dollar Boondoggle Act of 2025," aims to increase transparency regarding federal projects experiencing significant cost overruns or delays. It mandates that the Director of the Office of Management and Budget (OMB) establish guidance for federal agencies to annually report on specific "covered projects," thereby enhancing accountability for taxpayer funds. A project qualifies as "covered" if it is either more than five years behind its original schedule or has incurred at least $1,000,000,000 more than its initial cost estimate . These projects encompass major acquisitions, construction, and other time-limited endeavors funded by executive and independent regulatory agencies, excluding direct spending. Agencies must provide comprehensive details, including purpose, original and current completion dates, and inflation-adjusted cost estimates, along with explanations for delays, cost increases, and any awarded bonuses. The OMB Director is then required to compile all this submitted information into an annual report. This report will be submitted to Congress and made publicly available on the OMB website, ensuring public access to critical data on underperforming federal projects.