Organization and Staffing - Congressional Budget Office
Budget Analysis Division. The Budget Analysis Division produces baseline projections of federal spending, publishes cost estimates for nearly every bill approved by Congressional committees, and fulfills thousands of requests for technical assistance as committees are considering which legislation to advance. The cost estimates include estimates not only of the effects of the legislation on ...
Outlook for the Budget and the Economy - Congressional Budget …
Jun 18, 2024 · CBO's Budget and Economic Outlook, typically produced in January each year and updated in August, includes an economic forecast and projections of spending and revenues under current law—known as baseline projections—over the next 10 years. CBO also updates its budget projections each spring in conjunction with its …
Answers to Questions for the Record Following a Hearing on How …
On September 11, 2024, the House Budget Committee convened a hearing at which Phillip L. Swagel, the Congressional Budget Office’s Director, testified about how CBO supports the Congress. 1 After the hearing, Chairman Arrington and Congressmen Bergman, Burgess, and Espaillat submitted questions for the record. This document provides CBO’s answers.
Budget and Economic Data - Congressional Budget Office
Long-Term Budget Projections. Extensions of 10-year budget projections for additional decades. Beginning in March 2021, extensions of 10-year economic projections for additional decades are included in the supplemental files that contain CBO’s long-term economic projections.
Climate Change, Disaster Risk, and Homeowner’s Insurance
Aug 27, 2024 · HTML Format - At a Glance Climate change heightens the risks of wildfires and other natural disasters. As insurance payouts for losses sustained in those disasters increase and as uncertainty about future losses grows, people in many high-risk areas have faced difficulty obtaining or affording insurance coverage for their property. As risk and costs increase, premiums will increase as well ...
Cost Estimates - Congressional Budget Office
CBO is required to produce a cost estimate for nearly every bill approved by a full committee of the House of Representatives or the Senate. Estimates include statements concerning intergovernmental and private-sector mandates as defined in the Unfunded Mandates Reform Act.
Accuracy of Projections - Congressional Budget Office
Dec 15, 2023 · In its May 2023 budget projections for fiscal year 2024, CBO underestimated revenues by 1 percent and outlays by 6 percent. CBO’s projection of the federal budget deficit for 2024 was less than the actual amount by 1.1 percent of GDP.
Reports - Congressional Budget Office
Jan 13, 2025 · In CBO’s projections, the U.S. population increases from 350 million people in 2025 to 372 million in 2055, and the average age rises. Beginning in 2033, annual deaths exceed annual births, and net immigration accounts for the growth.
Budget | Congressional Budget Office
3 days ago · CBO's regular budget publications include semiannual reports on the budget and economic outlook, annual reports on the President's budget and the long-term budget picture, and a biannual set of options for reducing budget deficits. CBO also prepares cost estimates and mandate statements for nearly all bills that are reported by Congressional committees.
10 Things to Know About CBO | Congressional Budget Office
Jan 7, 2025 · 1. Lawmakers created the Congressional Budget Office to help the Congress play a stronger role in budget matters. CBO was established by the Congressional Budget Act of 1974 (the Budget Act) to provide objective, nonpartisan information to support the Congressional budget process.