- Report
The Senate Appropriations Committee convened a hearing at which Director Phillip Swagel testified about CBO’s appropriation request for fiscal year 2021. This document provides CBO’s answers to questions submitted for the record.
- Report
CBO discusses choices about revenues and spending that lawmakers face in addressing the shortfall in the Highway Trust Fund as well as options for subsidizing state and local governments’ financing of highway projects.
- Report
CBO estimates that real gross domestic product will contract by 11 percent in the second quarter of this year, which is equivalent to a decline of 38 percent at an annual rate, and that the number of people employed will be almost 26 million lower than the number in the fourth quarter of 2019.
- Report
CBO plans to adjust its usual report schedule to keep the Congress informed about the rapidly evolving economic and budgetary consequences of the 2020 coronavirus pandemic.
- Report
This letter answers questions from Congresswoman Schakowsky related to federal funding for state and local governments.
- Report
The federal budget typically records a surplus in April because final tax payments for the prior year and estimated payments for the current year are usually due on April 15. But this year, the government incurred a deficit of $737 billion in April, CBO estimates, compared with a surplus of $160 billion last year.
- Report
The federal budget deficit was $741 billion in the first half of fiscal year 2020, CBO estimates, $50 billion more than the deficit recorded during the same period last year.
- Report
Each quarter, CBO provides information about its work in progress. As of March 31, the agency was working on 159 cost estimates for legislation in addition to 25 analytic products.
- Report
Using FCRA procedures, CBO estimates that new loans and loan guarantees issued in 2021 would result in savings of $41.8 billion. But using fair-value estimates, CBO projects that they would have a lifetime cost of $46.8 billion.
- Report
On February 10, the Administration transmitted its annual set of budgetary proposals to the Congress. CBO estimates that in the coming decade deficits under those proposals would be smaller and debt held by the public would be lower than amounts in CBO’s baseline projections—but larger than the Administration projected. CBO’s estimates do not account for changes to the nation’s economic or fiscal outlook arising from the recent public health emergency.
