CBO describes estate and gift taxes, the people who pay them, the types of assets that make up taxable estates, and the model the agency uses to project estate and gift tax revenues in its baseline.
The federal budget deficit was $2.1 trillion in the first eight months of fiscal year 2021, CBO estimates—$184 billion more than the deficit recorded during the same period last year.
The military services use unmanned aerial systems (UASs) differently than manned aircraft. UASs generally have lower recurring costs per flying hour, but their cost advantage may be smaller when the cost of acquiring the aircraft is considered.
CBO estimates that plans for U.S. nuclear forces, as described in the fiscal year 2021 budget and supporting documents, would cost $634 billion over the 2021–2030 period, $140 billion more than CBO’s 2019 estimate for the 2019–2028 period.
This update of CBO’s 2016 primer on the structure of the U.S. military describes the size, functions, and operation and support costs of every major element of the armed forces.
The federal budget deficit was $1.9 trillion in the first seven months of fiscal year 2021, CBO estimates—$449 billion more than the deficit recorded during the same period last year.
CBO reports annually on programs whose authorizations of appropriations have already expired or will expire.
CBO announces the current members of its Panel of Economic Advisers.
View CBO’s budget infographics to see how much the federal government spent and took in during fiscal year 2020, as well as broader trends in the budget over the past few decades.
CBO outlines the main channels by which climate change and policies intended to mitigate or adapt to it affect the federal budget. Climate change increases budget deficits; investments in mitigation or adaptation could reduce those costs.