Reconciliation
- Working Paper
Key Methods That CBO Used to Estimate the Macroeconomic Effects of the 2025 Reconciliation Act: Working Paper 2026-01
The 2025 reconciliation act included a wide range of provisions that affect policies governing federal revenues and spending. This working paper describes the key methods that CBO used to estimate the law's macroeconomic effects.
- Report
The Budget and Economic Outlook: 2026 to 2036
In CBO's projections, the federal budget deficit in fiscal year 2026 is $1.9 trillion, and federal debt rises to 120 percent of GDP in 2036. Economic growth strengthens in 2026 and moderates in later years.
- Report
Answers to Questions for the Record Following a Hearing on Oversight of CBO
The House Committee on the Budget convened a hearing at which Phillip L. Swagel, CBO's Director, testified about the agency's work. This document provides CBO's answers to questions submitted for the record after the hearing.
- Cost Estimate
Budgetary Determination for Section 1564 of S. 2296, the National Defense Authorization Act for Fiscal Year 2026, as Passed by the Senate on October 9, 2025
In this letter, CBO discusses the effects of enacting section 1564 of S. 2296, as passed by the Senate.
- Report
Testimony on How CBO Supported Congress During the 2025 Budget Reconciliation Process
CBO's Director, Phillip Swagel, testifies before the House Committee on the Budget.
- Cost Estimate
Public Law 119-21, to Provide for Reconciliation Pursuant to Title II of H. Con. Res. 14 Title VII, Finance, Subtitle B, Health, Chapter 1, Medicaid
As enacted on July 4, 2025
- Cost Estimate
Revised Estimate of Changes Under the 2025 Reconciliation Act for Exemptions From Medicare Price Negotiations for Orphan Drugs
CBO responds to questions regarding the orphan drug exemption under Public Law 119-25, the 2025 reconciliation act.
- Report
The Estimated Effects of Enacting Selected Health Coverage Policies on the Federal Budget and on the Number of People With Health Insurance
CBO estimates that permanently extending the expanded premium tax credit, nullifying a marketplace final rule, and repealing policies in the 2025 reconciliation act would increase deficits and the number of people with health insurance.
- Report
CBO's Current View of the Economy From 2025 to 2028
CBO provides details about its latest economic projections through 2028, which reflect several substantial changes in federal policy and economic developments that have occurred this year.