Cost Estimates

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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.

Cost estimates are advisory only; they can, but need not, be used to enforce budgetary rules or targets. CBO does not enforce budgetary rules; the Budget Committees do.

Budget reconciliation is an expedited process for considering bills that would implement policies embodied in a Congressional budget resolution. Since 1980, the first year the process took place, various laws have been enacted through budget reconciliation—for example, the 2017 tax act (Public Law 115-97), the American Rescue Plan Act of 2021 (P.L. 117-2), and the 2022 reconciliation act (P.L. 117-169).

  1. Budgetary Determination for Section 1564 of S. 2296, the National Defense Authorization Act for Fiscal Year 2026, as Passed by the Senate on October 9, 2025
    In this letter, CBO discusses the effects of enacting section 1564 of S. 2296, as passed by the Senate.
  2. Testimony on How CBO Supported Congress During the 2025 Budget Reconciliation Process
    CBO's Director, Phillip Swagel, testifies before the House Committee on the Budget.
  3. Public Law 119-21, to Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14 Title VII, Finance, Subtitle B, Health, Chapter 1, Medicaid
    As enacted on July 4, 2025
  4. Public Law 119-21, to Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14 Title IV, Committee on Commerce, Science, and Transportation Section 40002, Spectrum Auctions
    As enacted on July 4, 2025
  5. Revised Estimate of Changes Under the 2025 Reconciliation Act for Exemptions From Medicare Price Negotiations for Orphan Drugs
    CBO responds to questions regarding the orphan drug exemption under Public Law 119-25, the 2025 reconciliation act.
  6. The Estimated Effects of Enacting Selected Health Coverage Policies on the Federal Budget and on the Number of People With Health Insurance
    CBO estimates that permanently extending the expanded premium tax credit, nullifying a marketplace final rule, and repealing policies in the 2025 reconciliation act would increase deficits and the number of people with health insurance.
  7. Medicaid State-Directed Payments: An Update on CBO's Modeling
    Presentation by Cyrus Ekland, Claire Hou, Aaron Pervin, and Rajan Topiwala, analysts in CBO's Budget Analysis and Health Analysis Divisions, at a meeting of CBO's Panel of Health Advisers.
  8. CBO's Current View of the Economy From 2025 to 2028
    CBO provides details about its latest economic projections through 2028, which reflect several substantial changes in federal policy and economic developments that have occurred this year.
  9. Clarifications of Marketplace Coverage and Eligibility Under Public Law 119-21 (H.R. 1) and the 2025 Marketplace Integrity and Affordability Rule
    CBO provides information about the effects of P.L. 119-21 (H.R. 1) on health insurance purchased through the ACA marketplaces and on improper receipt of subsidies, and the effects of a final rule published by HHS on marketplace subsidies.
  10. CBO's Estimates of the Statutory Pay-As-You-Go Effects of Public Law 119-21
    CBO provides information concerning the effects of a potential sequestration in accordance with the Statutory Pay‑As‑You‑Go Act of 2010 that could occur as a result of the enactment of the 2025 reconciliation act (Public Law 119-21).