As required by law, CBO reports on whether appropriations enacted for the current fiscal year have exceeded the statutory caps on discretionary funding. In CBO’s estimation, they have not, and a sequestration will not be required for 2021.
CBO announces the current members of the Panel of Health Advisers.
The federal budget deficit was $2.5 trillion in the first 10 months of fiscal year 2021, CBO estimates—$269 billion less than the deficit during the same period last year.
Effects of Physical Infrastructure Spending on the Economy and the Budget Under Two Illustrative Scenarios
CBO examined two illustrative scenarios that would boost federal funding for a mix of types of physical infrastructure by $500 billion over 10 years. The two scenarios differ in how the additional spending would be financed.
In 2018, average household income after accounting for means-tested transfers and federal taxes was $37,700 among households in the lowest quintile and $243,900 among households in the highest quintile.