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.
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.