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Congressional Budget Office

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  • Issue Brief posted June 28, 2016 by Curtis S. Dubay CBO Report on Distribution of Income and Taxes Shows Taxes Matter

    The Congressional Budget Office (CBO) has released its periodic report on the distribution of household income and federal taxes, extending the data series on these figures from 2012 to 2013.[1] This latest edition of the CBO report shows how the enactment of the American Taxpayer Relief Act of 2012 (ATRA) and its accompanying tax increases affected taxpayer bills and…

  • Issue Brief posted June 24, 2016 by Justin Bogie Time to End “Zombie” Appropriations

    A growing problem on Capitol Hill has been the expanding practice of Congress appropriating funds to so-called zombie programs, which are programs that have never been authorized or are operating under an expired authorization. Under House and Senate rules, an appropriation cannot be made for a purpose unless separate authorizing legislation has been passed into law.…

  • Issue Brief posted July 28, 2015 by Curtis S. Dubay The Senate Can Use Tax Extenders as an Opportunity to Improve the Tax Code

    The tax extenders are a group of approximately 50 tax-reducing policies that expire regularly. Congress has traditionally extended them just as regularly as they expire. Late last year, Congress retroactively renewed them for 2014, which means they are currently expired. The Senate Finance Committee marked up its version of this year’s tax extender bill recently. In that…

  • Issue Brief posted July 20, 2015 by John Gray The Appropriations Process: Spending Caps Explained

    Each year, Congress funds much of the general operations of the federal government with legislation known as appropriations bills. These appropriations bills provide discretionary budget authority (authority for the government to spend money) for a number of programs, including national defense, national parks, transportation, and homeland security, among others. These…

  • Posted on May 14, 2014 by Romina Boccia What the 2014 Deficit Tells and Doesn’t About the U.S. Budget Gap

    While the budget has received relatively little attention since February, one misleading headline has made the rounds:...…

  • Posted on May 14, 2014 by Romina Boccia What the 2014 Deficit Tells and Doesn’t About the U.S. Budget Gap

    While the budget has received relatively little attention since February, one misleading headline has made the rounds:...…

  • Posted on April 20, 2014 by Rich Tucker Market Pricing, Solving Problems

    In medical care, you have to get the diagnosis correct. But if you want to solve the problem, you’ve also got to get...…

  • Posted on April 17, 2014 by Rachel Greszler CBO Report Shows President’s Budget Relies on Rosy Economic Assumptions

    According to the non-partisan Congressional Budget Office (CBO), total deficits under President Obama's 2015 budget...…

  • Commentary posted April 17, 2014 by Stephen Moore Who Shrank the Deficit?

    A budget deficit of nearly half a trillion dollars is hardly something to cheer about, but the big decline in federal red ink as a share of our national output has been a stunning achievement. The new April budget update from the Congressional Budget Office tells us that, in 2009, Barack Obama and the Democrats rang up an elephantine $1.3 trillion deficit, which amounted…

  • Posted on April 14, 2014 by Romina Boccia CBO Report Estimates 2014 Deficit at Half a Trillion Dollars: Why The Real Deficit Number is Actually Higher

    Today the Congressional Budget Office (CBO) released its updated projections for the 2014 federal budget. CBO reports...…

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  • Commentary posted April 17, 2014 by Stephen Moore Who Shrank the Deficit?

    A budget deficit of nearly half a trillion dollars is hardly something to cheer about, but the big decline in federal red ink as a share of our national output has been a stunning achievement. The new April budget update from the Congressional Budget Office tells us that, in 2009, Barack Obama and the Democrats rang up an elephantine $1.3 trillion deficit, which amounted…

  • Issue Brief posted June 4, 2013 by Curtis S. Dubay CBO Report on “Tax Expenditures” Has It Wrong

    The Congressional Budget Office (CBO) released a report on the distribution of “tax expenditures”[1] that some are wrongly using to push for additional tax increases. This was inevitable because the report takes the wrong approach to the issue. Wrongly Named The CBO misnames “tax expenditures.” Congress has explicitly inserted these provisions (routinely called…

  • Issue Brief posted February 5, 2013 by Salim Furth, Ph.D. Questions Raised by the CBO Report

    As expected, the Congressional Budget Office (CBO) Budget and Economic Outlook released today continued the pattern of predicting a strong recovery just two years away.[1] Although CBO’s economic approach is typical among forecasters and historically unbiased, the economy’s persistent failure to launch as predicted raises questions. Are current conditions of persistent…

  • Issue Brief posted September 12, 2012 by Patrick Louis Knudsen FY 2013 Continuing Resolution: Spends Every Dollar and More

    The House Appropriations Committee website proudly displays Congress’s constitutional authority over the federal government’s purse strings: “No money shall be drawn from the Treasury but in Consequence of Appropriations made by law” (Article 1, Section 9, Clause 7). That is about best that can be said, however, for the six-month fiscal year (FY) 2013 continuing…

  • Issue Brief posted January 8, 2013 by Salim Furth, Ph.D. Effective Marginal Tax Rates for Low-Income Workers Are High

    The Congressional Budget Office (CBO) released a report on effective marginal tax rates for low-income workers.[1] An effective marginal tax rate as defined by the CBO is the change in taxes and change in government benefits associated with increases in income. Because tax rates and government benefits change as income changes, an individual’s effective marginal tax rate…

  • Issue Brief posted June 5, 2012 by Patrick Louis Knudsen CBO’s Long-Term Budget Outlook: Congress Must Act

    Not surprisingly, the latest Congressional Budget Office (CBO) long-term budget outlook projects a disturbing and unsustainable rate of growth in federal spending, deficits, and debt. Equally troubling, however, is the growing urgency of the problem: The “long term” is drawing nearer. The longer Congress delays, the more wrenching will be the policy changes needed to…

  • WebMemo posted January 26, 2011 by Brian M. Riedl New CBO Budget Baseline Reveals Permanent Trillion-Dollar Deficits

    The new Congressional Budget Office (CBO) 10-year budget baseline shows a virtually unprecedented sea of red ink. The report reveals an unprecedented $1.5 trillion deficit in fiscal year (FY) 2011—an increase of $95 billion over their last 2011 estimate.[1] This will be the third consecutive year of trillion-dollar deficits. However, the baseline includes a number…

  • WebMemo posted June 1, 2010 by James C. Capretta Obamacare: Impact on Future Generations

    President Obama and other proponents of the recently passed health care law argue that the legislation was desperately needed to improve the nation’s health system for both today’s citizens as well as future generations. But there are many reasons to be concerned that this new law will instead deliver both a lower quality health system and more costly and burdensome…

  • Issue Brief posted June 14, 2012 by Romina Boccia CBO Report Echoes Trustees on Medicare, Social Security

    The 2012 Congressional Budget Office (CBO) long-term budget outlook illustrates a grim picture for the nation’s fiscal future unless entitlements are reformed. In particular, spending on Medicare and Social Security is the largest driver of federal spending and debt. In combination with the 2012 trustees report, the projections in this latest CBO report present a…

  • Commentary posted October 17, 2013 by Jim DeMint We Won't Back Down on ObamaCare

    Now that the government shutdown has ended and the president has preserved ObamaCare for the time being, it's worth explaining why my organization, the Heritage Foundation, and other conservatives chose this moment to fight—and why we will continue to fight. The reason is simple: to protect the American people from the harmful effects of this law. I spent a good part…

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  • Issue Brief posted June 28, 2016 by Curtis S. Dubay CBO Report on Distribution of Income and Taxes Shows Taxes Matter

    The Congressional Budget Office (CBO) has released its periodic report on the distribution of household income and federal taxes, extending the data series on these figures from 2012 to 2013.[1] This latest edition of the CBO report shows how the enactment of the American Taxpayer Relief Act of 2012 (ATRA) and its accompanying tax increases affected taxpayer bills and…

  • Issue Brief posted June 24, 2016 by Justin Bogie Time to End “Zombie” Appropriations

    A growing problem on Capitol Hill has been the expanding practice of Congress appropriating funds to so-called zombie programs, which are programs that have never been authorized or are operating under an expired authorization. Under House and Senate rules, an appropriation cannot be made for a purpose unless separate authorizing legislation has been passed into law.…

  • Issue Brief posted July 28, 2015 by Curtis S. Dubay The Senate Can Use Tax Extenders as an Opportunity to Improve the Tax Code

    The tax extenders are a group of approximately 50 tax-reducing policies that expire regularly. Congress has traditionally extended them just as regularly as they expire. Late last year, Congress retroactively renewed them for 2014, which means they are currently expired. The Senate Finance Committee marked up its version of this year’s tax extender bill recently. In that…

  • Issue Brief posted July 20, 2015 by John Gray The Appropriations Process: Spending Caps Explained

    Each year, Congress funds much of the general operations of the federal government with legislation known as appropriations bills. These appropriations bills provide discretionary budget authority (authority for the government to spend money) for a number of programs, including national defense, national parks, transportation, and homeland security, among others. These…

  • Issue Brief posted August 13, 2013 by Salim Furth, Ph.D. CBO Should Measure Long-Term Obligations and Policy Impact

    Senators John Thune (R–SD) and Tim Kaine (D–VA) have introduced legislation to require the Congressional Budget Office (CBO) to conduct long-term fiscal scoring and annual measurement of the fiscal gap.[1] Their effort is timely. Today, the largest fiscal questions facing Congress concern policies that will determine the health of America’s finances decades in the…

  • Issue Brief posted June 10, 2013 by Derrick Morgan How to Read the CBO’s Scoring of the Immigration Bill

    Sometime in the next few weeks, the Congressional Budget Office (CBO) will produce a “score” of S. 744, the Border Security, Economic Opportunity, and Immigration Modernization Act (known colloquially as the “Gang of Eight bill”), as recently reported out of the Senate Judiciary Committee. During the last congressional debate over immigration reform in 2007, a CBO…

  • Issue Brief posted June 4, 2013 by Curtis S. Dubay CBO Report on “Tax Expenditures” Has It Wrong

    The Congressional Budget Office (CBO) released a report on the distribution of “tax expenditures”[1] that some are wrongly using to push for additional tax increases. This was inevitable because the report takes the wrong approach to the issue. Wrongly Named The CBO misnames “tax expenditures.” Congress has explicitly inserted these provisions (routinely called…

  • Issue Brief posted April 24, 2013 by Jason Richwine, Ph.D. The Unknown Cost of Federal Student Loans

    As Congress again considers preventing the interest rate on federal student loans from doubling, the cost to taxpayers should be a central issue. However, the federal government’s accounting practices systematically understate the cost of student loans by failing to account for market risk. A superior method called “fair value accounting,” which is the strong preference…

  • Issue Brief posted February 5, 2013 by Salim Furth, Ph.D. Questions Raised by the CBO Report

    As expected, the Congressional Budget Office (CBO) Budget and Economic Outlook released today continued the pattern of predicting a strong recovery just two years away.[1] Although CBO’s economic approach is typical among forecasters and historically unbiased, the economy’s persistent failure to launch as predicted raises questions. Are current conditions of persistent…

  • Issue Brief posted January 8, 2013 by Salim Furth, Ph.D. Effective Marginal Tax Rates for Low-Income Workers Are High

    The Congressional Budget Office (CBO) released a report on effective marginal tax rates for low-income workers.[1] An effective marginal tax rate as defined by the CBO is the change in taxes and change in government benefits associated with increases in income. Because tax rates and government benefits change as income changes, an individual’s effective marginal tax rate…

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