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- Report
CBO and the Joint Committee on Taxation project the budgetary effects, including the effects on interest costs, of a modified version of H.R. 5376, the Build Back Better Act, that would make various policies permanent rather than temporary.
- Working Paper
This paper describes the methods and data that CBO uses to estimate the cost of market risk for three categories of federal credit programs: housing and real estate loans, student loans and other consumer loans, and commercial loans.
- Cost Estimate
As Posted on the Website of the House Committee on Rules on November 3, 2021 (Rules Committee Print 117-18), as Amended by Yarmuth Amendment 112
- Report
CBO estimates the costs of federal credit programs in two ways—following procedures prescribed by the Federal Credit Reform Act (FCRA) and using a fair-value approach, which measures the market value of the government’s obligations.
- Report
CBO describes VA’s mortgage guarantee program, provides estimates of the budgetary costs of the program, and compares those costs with expenditures for other federal guarantees.
- Working Paper
This paper explores the practical questions raised by fair-value budgeting: Which government activities would benefit from it? How might it be used? How can agencies estimate fair value without observing market prices for government risks?
- Report
Congress created the Troubled Asset Relief Program (TARP) in 2008 to stabilize financial markets. CBO estimates that the TARP’s net cost will be $31 billion—about what it reported in March 2020 and $1 billion lower than OMB’s latest estimate.
- Working Paper
This paper explores the benefits and costs of governmental risk taking in formal models of market imperfections, in which the government serves as an intermediary between different stakeholders in its finances.
- Presentation
Presentation by Justin Humphrey, an analyst in CBO's Budget Analysis Division, to the Postsecondary National Policy Institute.
- Working Paper
Fair-value budget estimates reflect cash flows that are weighted by the value market participants would place on different scenarios instead of the average of their possible amounts.