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- Report
In fiscal year 2007 total public spending for transportation and water infrastructure was $356 billion, or 2.4 percent of the nation’s economic output as measured by its gross domestic product.
- Blog Post
The nations transportation and water infrastructureits highways, airports, water supply systems, wastewater treatment plants, and other facilitiesplays a vital role in the economy. Private commercial activities and the daily lives of individuals depend on that physical infrastructure, which is provided by all levels of government in the United States.
- Report
CBO estimated the budgetary impact of the activities of Fannie Mae and Freddie Mac using the methodology specified in the Federal Credit Reform Act of 1990.
- Blog Post
In September 2008, the federal government took control of Fannie Mae and Freddie Mac—two government sponsored enterprises (GSEs) that provide credit guarantees on more than half of the outstanding residential mortgages in the United States. Although they are not legally federal agencies, the government operates them to fulfill the public purpose of supporting the housing and mortgage markets. Therefore, CBO believes that it is appropriate to include the GSEs’ financial transactions in the federal budget.
- Report
The Budgetary Impact and Subsidy Costs of the Federal Reserve's Actions During the Financial Crisis
- Blog Post
Over the past several years, the nation has experienced its most severe financial crisis since the Great Depression of the 1930s. To stabilize financial markets and institutions, the Federal Reserve System used its traditional policy tools to reduce short-term interest rates and increase the availability of funds to banks, and created a variety of nontraditional credit programs to help restore liquidity and confidence to the financial sector. In doing so, it more than doubled the size of its asset portfolio to over $2 trillion and assumed more risk of losses than it normally takes on.
- Report
Tax Arbitrage by Colleges and Universities
- Blog Post
Colleges and universities enjoy a variety of federal tax preferences that are designed to support a broader public purpose—the advancement of higher education and research. Not only are institutions of higher learning exempt from paying federal income taxes, they also are eligible to receive tax-deductible charitable contributions and allowed to use tax-exempt debt to finance capital expenditures.
- Report
Testimony before the Subcommittee on Military Personnel, Committee on Armed Services, U.S. House of Representatives
- Report
Testimony prepared for the Joint Economic Committee, U.S. Congress