CBO turns 40 on Tuesday, February 24 and is commemorating the event with a panel discussion about CBO's past and future featuring all seven former CBO directors. The event will be held on February 24 at the U.S. Capitol Visitor Center from 1:00 p.m. to 3:30 p.m. Join the conversation on Twitter using the event hashtag #CBOat40. The full media advisory can be found on the press page.
Deborah Kilroe is CBO's Associate Director for Communications.
Up to 85 percent of a Social Security recipient’s benefits are subject to the individual income tax. CBO estimates that income taxes on Social Security benefits totaled $51 billion in 2014.
CBO’s forecasts generally have been comparable in quality to those of the Administration and the Blue Chip consensus, with large errors by CBO tending to reflect difficulties shared by other forecasters.
Businesses have become increasingly likely to choose the organizational structure that offers more favorable tax treatment. As a result, revenues are lower than they would otherwise be, but incentives for investment are probably greater.
For the latter half of its 10-year projection period, CBO projects that actual output will grow at the same rate as potential output but fall short of potential output by about half a percent, on average—matching its long-term average gap.
The federal government ran a budget deficit of $195 billion for the first four months of fiscal year 2015, CBO estimates—$12 billion more than the shortfall recorded in the same span last year.
CBO examines the effect of energy savings performance contracts (ESPCs) on the energy usage and energy costs of federal agencies, and on the federal budget.
CBO Director Doug Elmendorf presents testimony about CBO’s latest report on the budget and economic outlook before the Committee on the Budget, United States Senate.
Testimony by Matthew Goldberg, Deputy Assistant Director of CBO’s National Security Division, before the Committee on Veterans’ Affairs’s Subcommittee on Health, U.S. House of Representatives.
CBO Director Doug Elmendorf presents testimony about CBO’s latest report on the budget and economic outlook before the Committee on the Budget, U.S. House of Representatives.
