Fair-Value Estimates of the Cost of Federal Credit Programs in 2019

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Using FCRA procedures, CBO estimates that new loans and loan guarantees issued in 2019 would result in savings of $37.4 billion. But using fair-value procedures, CBO estimates that they would have a lifetime cost of $37.9 billion.

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Data and Supplemental Information

Corrections and Updates

Corrections: On October 2, 2018, CBO reposted this report and the supplemental tables for 2018 to correct errors in the estimates of subsidies under FCRA for that year. The report's narrative and fair-value estimates are unchanged.