The Congressional Budget Office will release An Overview of the Economic Outlook: 2021 to 2031 on Monday, February 1, at 11:00 a.m. The report will include a brief description of CBO’s latest 10-year economic projections, which are based on laws enacted and administrative actions taken through January 12. Thus, they incorporate the economic effects of the Consolidated Appropriations Act, 2021 (Public Law 116-260), which was enacted in late December. The agency’s most recent economic projections were published in July 2020.
CBO will use the new projections as the basis for updating its budget projections for 2021 to 2031, which will also be based on laws enacted and administrative actions taken through January 12. The agency expects to release those budget projections by mid-February.
CBO typically releases its economic projections along with the budget projections in late January or early February, but it has decided to release the economic projections separately to assist lawmakers as they continue to address the consequences of the coronavirus pandemic. Also, the report will be shorter and less detailed than usual so that CBO can provide the information as quickly as possible. CBO expects to publish more detailed information, as well as supplementary information, later this winter.
Deborah Kilroe is CBO’s Director of Communications.