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- Working Paper
The results of this analysis indicate that tax changes have significant effects on labor market outcomes, but those effects vary depending on the state of the economy at the time a tax change is implemented.
- Report
CBO projects that from 2020 to 2030, annual real GDP will be 3.4 percent lower, on average, than it projected in January. The annual unemployment rate, which was projected to average 4.2 percent, is now projected to average 6.1 percent.
- Report
In this letter, CBO describes the characteristics—race, sex, age, education, and household earnings—of the 19 million people who are expected to receive regular unemployment benefits in July 2020.
- Report
CBO examines four laws enacted in response to the 2020 coronavirus pandemic and summarizes their effects on federal spending, revenues, and the deficit. CBO also provides details about the laws’ effects on discretionary spending, mandatory spending, revenues, and mandates.
- Report
The CARES Act granted a temporary increase of $600 per week in the benefit amount provided by unemployment programs. In this letter, CBO examines the economic effects of extending that increase from July 31, 2020, to January 31, 2021.
- Report
In 2018, 46 million people living in the United States—or 14 percent of the population—had been born in other countries. CBO examines the employment and earnings of men and women by their legal immigration status, level of education, and birthplace.
- 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.
- Presentation
Presentation by Phillip Swagel, CBO’s Director, to the Committee on the Budget, U.S. House of Representatives.
- Blog Post
CBO discusses its preliminary projections of key economic variables and its preliminary assessments of federal budget deficits and debt through 2021. The amounts include the effects of legislation enacted in response to the pandemic.
- Blog Post
As a result of the continued disruption of commerce stemming from the coronavirus pandemic, CBO expects the unemployment rate to exceed 10 percent as gross domestic product declines during the second quarter.