Over the past three months, CBO has provided a variety of budget and economic analyses, fulfilling the agency’s core mission of supporting the Congress during each stage of the legislative process.
The agency has published 181 cost estimates for legislation that was reported by a committee or that was the subject of a motion to be placed on the consensus calendar. They included an estimate for H.R. 2471, the Consolidated Appropriations Act, 2022 (Public Law 117-103), which funds the government for the remainder of fiscal year 2022. That law includes funding to address the situation in Ukraine and provide assistance for Ukraine and other countries, and it makes other changes that will affect direct spending and revenues. CBO also published an estimate for H.R. 4521, the America COMPETES Act of 2022, which was estimated to increase direct spending by about $68 billion over the 2022–2031 period. Much of that increase is the estimated effect of incentives to manufacture semiconductors in the United States. The bill also authorizes the appropriation of at least $335 billion over the 2022–2031 period, primarily for provisions that involve research and manufacturing in the United States.
In addition, since its last quarterly report on work in progress, CBO has released 18 reports and working papers; they satisfied statutory requirements, fulfilled Congressional requests, or provided economic and budgetary analysis or technical information.