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 205 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. One of those cost estimates was for the 2022 reconciliation act (Public Law 117-169). That publication included estimates for roughly 150 different provisions, including ones putting in place a new alternative minimum tax on corporations, additional funding for the Internal Revenue Service, a requirement that Medicare negotiate prices of certain prescription drugs, enhancement of health insurance subsidies established by the Affordable Care Act, and subsidies for renewable energy. Another cost estimate was for a law that addresses various matters related to veterans who were exposed to toxic substances during military service, the Honoring Our PACT Act of 2021 (P.L. 117-168). In addition, CBO estimated the cost of a law that provides funds to support the domestic production of semiconductors and authorizes various programs and activities of the federal science agencies, the CHIPS Act of 2022 (P.L. 117-167).
Aside from cost estimates of legislation, CBO released estimates of the costs of the President’s executive actions that suspend student loan payments and cancel some student loan debt.
Since its last quarterly report on work in progress, CBO has also released 18 reports, working papers, and other analytic products.