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CBO responds to a request for information about whether a sequestration could be triggered in accordance with the Statutory Pay-As-You-Go Act of 2010 if the American Rescue Plan Act of 2021 was enacted.

As Posted on the website of the House Committee on Rules on February 19, 2021

This document provides additional information on the economic forecast that CBO initially released on February 1, 2021.

CBO will release The 2021 Long-Term Budget Outlook on Thursday, March 4, at 2:00 p.m. The report will provide projections of federal spending, revenues, deficits, and debt for the next 30 years.

As Posted on the Website of the House Committee on Rules on February 19, 2021

CBO describes how the prices of brand-name prescription drugs are determined in different federal programs and compares drug prices among those programs in 2017.

CBO Director Phillip Swagel spoke about the agency’s latest 10-year budget and economic projections at an event hosted by the Concord Coalition.

This interactive workbook allows users to see how revenues and outlays that differed from those in CBO’s February 2021 baseline budget projections would increase or decrease net interest costs and thus affect deficits and debt.

CBO provides information on the breadth of the budgetary effects of the Raise the Wage Act of 2021 compared with certain other reconciliation legislation the agency has analyzed.

As ordered reported on February 9, 2021

As ordered reported on February 12, 2021

As ordered reported on February 10 and 11, 2021

As ordered reported on February 12, 2021

As ordered reported on February 10, 2021

As ordered reported on February 11, 2021

As ordered reported on February 10, 2021

As ordered reported on February 10, 2021

As ordered reported on February 11, 2021

If current laws governing taxes and spending generally remain unchanged, CBO projects, in 2021, the federal budget deficit will total $2.3 trillion, federal debt will reach 102 percent of GDP, and real GDP will grow by 3.7 percent.

CBO examined the threat that adversaries equipped with land-attack cruise missiles might pose to the U.S. homeland and estimated the costs of several defensive systems that could be fielded to protect the United States from such attacks.

The federal budget deficit was $738 billion in the first four months of fiscal year 2021, CBO estimates—$348 billion more than the deficit recorded during the same period last year.

If the Raise the Wage Act of 2021 was enacted in March 2021, the cumulative budget deficit over the 2021–2031 period would increase by $54 billion.

This working paper describes CBO's simulation model of drug price negotiations under the Elijah E. Cummings Lower Drug Costs Now Act in detail, including its data sources and parameter values, and the sensitivity of the results.

CBO will release The Budget and Economic Outlook: 2021 to 2031 at 2 p.m. on Thursday, February 11. The report will include a brief description of CBO’s latest 10-year budget projections and reprise the economic projections issued this week.

Presentation by Eric J. Labs, an analyst in CBO’s National Security Division, at the 2021 Virtual Expeditionary Warfare Conference.

CBO projects that the economic expansion that began in mid-2020 will continue. Real GDP is projected to return to its prepandemic level in mid-2021. The number of people employed is projected to return to its prepandemic level in 2024.

CBO will release An Overview of the Economic Outlook: 2021 to 2031 at 11 a.m. on Monday, February 1. The report will include a brief description of CBO’s latest 10-year economic projections.

CBO explains some of the guidelines it follows when providing information to the Congress about the budgetary effects of proposed legislation.

In this letter, CBO responds to a question about the national average wage index, which is used in the calculation of Social Security benefits.

Presentation by Theresa Gullo, Director of Budget Analysis, and John McClelland, Director of Tax Analysis, at a joint seminar by the Congressional Budget Office and the Congressional Research Service.