The Congressional Budget Office (CBO) released its estimate of the Biden administration’s annual set of budgetary proposals to Congress, and examined how the proposals, if enacted, would affect budgetary outcomes in relation to CBO’s baseline projections. Based on CBO projections, President Joe Biden’s proposals will have the effect of budget deficits totaling $13.1 trillion over…
CBO Releases Estimate of Biden’s 2023 Budget, Hiking Taxes Part of Proposals to Increase Federal Revenue
September 15, 2022
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Business & MarketsCBOCongressional Budget Officeeconomic policieseconomyfederal revenueGDPinflationPolicies & ImpactsUS
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Inflation Can ‘Take Years, Not Months,’ to Cool Off: Former CBO Director
August 30, 2022
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Business & MarketsCBOeconomyhigh inflationinflationInflation Reduction ActstagflationU.S. interest rate hikesUSUS News
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Former Congressional Budget Office Director Douglas Holtz-Eakin has warned that the high inflation rate troubling American citizens isn’t going away anytime soon and is here to stay for several years. In an interview with Fox, Holtz-Eakin cited Federal Reserve Chairman Jerome Powell’s statement on Aug. 26 about inflation. “One of the things that Powell emphasized…
CBO Estimates Build Back Better Bill With No Sunsets Would Add $3 Trillion to Deficit
The Congressional Budget Office (CBO) has released an estimate of what it would cost to make most temporary provisions in the House-passed Build Back Better Act permanent, projecting it would add trillions to the deficit and sparking a fresh wave of Republican criticism of the Democrats’ social and climate spending bill. Responding to a Republican…
CBO Gives Update on Scoring For Democrats’ Budget Bill
The Congressional Budget Office (CBO) released a statement on Tuesday detailing its progress on scoring Democrats’ controversial $1.75 trillion budget bill. The CBO was created in the mid-1970s as part of a larger effort by Congress to take back its budgetary power following the revelations of the Watergate scandal. Its main role since its creation…
CBO Details How Pentagon Can Save $1 Trillion
The Congressional Budget Office (CBO) has released a report showing how the Pentagon can cut $1 trillion in spending by tweaking its national defense strategy. The CBO’s Oct. 7 report comes as lawmakers look to boost the Department of Defense (DOD) budget by 5 percent, with supporters arguing that doing so is necessary to continue…
Bipartisan Infrastructure Bill Would Add $256 Billion to Deficits: CBO Score
The Congressional Budget Office (CBO) has released its much-anticipated score for the bipartisan infrastructure plan now under consideration in the Senate, estimating the package would add $256 billion in deficits over ten years, countering negotiators’ claim it would be fully paid for. “The Congressional Budget Office estimates that over the 2021-2031 period, enacting Senate Amendment 2137…
Bipartisan Infrastructure Bill Would Add $256 Billion to Deficits: CBO
The Congressional Budget Office (CBO) has released its much-anticipated score for the bipartisan infrastructure plan now under consideration in the Senate, estimating the package would add $256 billion in deficits over ten years, countering negotiators’ claim it would be fully paid for. “The Congressional Budget Office estimates that over the 2021-2031 period, enacting Senate Amendment 2137…
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