Economy
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Options for Reducing the Deficit, 2023 to 2032--Volume II: Smaller Reductions
CBO issues a volume that contains short descriptions of 59 policy options that would each reduce the federal budget deficit by less than $300 billion over the next 10 years.
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The Economic Effects of Waiting to Stabilize Federal Debt
CBO analyzes the economic effects of waiting to stabilize federal debt. The longer action is delayed, the larger the policy changes needed to stabilize debt. The timing and type of policy would determine its effects on different age and income groups.
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Effects of Physical Infrastructure Spending on the Economy and the Budget Under Two Illustrative Scenarios
CBO examined two illustrative scenarios that would boost federal funding for a mix of types of physical infrastructure by $500 billion over 10 years. The two scenarios differ in how the additional spending would be financed.
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Federal Policies in Response to Declining Entrepreneurship
CBO examines the falloff in entrepreneurship, its potential economic consequences, factors that have contributed to it, and ways that federal policies could be changed to reverse the trend.
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The Effects of Pandemic-Related Legislation on Output
By providing financial support to households, businesses, and state and local governments, federal laws enacted in response to the 2020 coronavirus pandemic will offset part of the deterioration in economic conditions brought about by the pandemic.
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The Role of the Federal Housing Administration in the Reverse-Mortgage Market
In this report, CBO examines how FHA’s Home Equity Conversion Mortgage program works, how it affects the federal budget, and how various policy approaches might reduce costs and risks to the government or to borrowers.
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Options to Improve the Financial Condition of the Pension Benefit Guaranty Corporation’s Multiemployer Program
The pensions of some 10 million people are insured by the Pension Benefit Guaranty Corporation’s multiemployer program. CBO projects future claims on the program and losses to its beneficiaries and analyzes potential policy changes.
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Budgetary and Economic Effects of Repealing the Affordable Care Act
CBO and the staff of the Joint Committee on Taxation estimate that, over the next decade, a repeal of the Affordable Care Act would probably increase budget deficits with or without considering the effects of macroeconomic feedback.
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Federal Reinsurance for Terrorism Risk: An Update
The federal program that provides insurance against the risk of terrorism expired at the end of 2014. CBO has examined various options for the program and their likely effects on the private sector and on the federal government.
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Federal Policies and Innovation
The federal government influences innovation through two broad channels: spending and tax policies, and the legal and regulatory systems. Policymakers have a number of options for spurring additional innovation.
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The Effects of a Minimum-Wage Increase on Employment and Family Income
Raising the minimum wage would increase family income for many low-wage workers, moving some of them out of poverty. But some jobs for low-wage workers would probably be eliminated and the income of those workers would fall substantially.
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Choices for Deficit Reduction: An Update
Federal debt is projected to rise significantly over the long term. What policy changes could reduce future deficits and thus lower the trajectory of federal debt? What criteria might be used to evaluate those policy changes?
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Border Adjustments for Economywide Policies That Impose a Price on Greenhouse Gas Emissions
A carbon tax or cap-and-trade program could make emission-intensive U.S. products less competitive and increase emissions overseas. Import tariffs related to emissions could reduce those effects but would be hard to implement.
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Modifying Mortgages Involving Fannie Mae and Freddie Mac: Options for Principal Forgiveness
CBO examined three options for Fannie Mae and Freddie Mac to use principal forgiveness for certain underwater borrowers. How would those options affect the number of mortgage defaults, the federal budget, and the overall economy?
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Unemployment Insurance in the Wake of the Recent Recession
Between 2007 and 2010, unemployment benefits expanded nearly five-fold owing to high unemployment due to the weak economy, and decisions by policymakers to increase the number of weeks for which unemployed workers could receive benefits.
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Choices for Deficit Reduction
Are fiscal rules a useful tool for achieving budgetary goals? View the appendix of this report to learn more.
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Energy Security in the United States
Improving energy security—the ability of U.S. households and businesses to accommodate disruptions of supply in energy markets—requires considering policies related to the nation’s supply of and demand for oil.
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Testimony on The Budgetary Cost of Fannie Mae and Freddie Mac and Options for the Future Federal Role in the Secondary Mortgage Market
Testimony before the Committee on the Budget, U.S. House of Representatives