The Congressional Budget Office will publish estimates of the budgetary effects of some of the proposals in the President’s budget (which was released on May 28, 2021) on Friday, July 30, at 11:00 a.m.
CBO works with the staff of the Joint Committee on Taxation (JCT) each year to estimate the budgetary effects of the changes to spending programs and the tax code proposed by the President. This year, however, because of the extensive work required for legislation currently being considered by the Congress, CBO and JCT have not been able to complete a comprehensive analysis of the President’s proposals. The estimates released this week will cover only some of those proposals and will not include CBO’s assessment of how all of the President’s proposals—taken together—would affect deficits and debt in the coming years in relation to the agency’s most recent baseline projections, which were released earlier this month.
CBO may produce estimates of the budgetary effects of other proposals in the President’s budget at a later date.
Deborah Kilroe is the Director of Communications at the Congressional Budget Office.