Feedback
What do you think about us?
Your name
Your email
Message
The Congressional Budget Office (CBO) is a key agency providing Congress with nonpartisan budgetary and economic analyses. It evaluates the financial impact of legislative proposals, the President's budget, and offers economic forecasts. The CBO's work influences fiscal policy, public debt, and economic growth, ensuring informed decision-making and maintaining checks and balances within the U.S. government.
Show More
The CBO was established by the Congressional Budget and Impoundment Control Act of 1974 to provide Congress with neutral and objective budgetary and economic information
Prevention of Political Bias
The CBO's analyses are independent of the executive branch, which helps to prevent political bias in its work
Main Responsibilities
The CBO's main responsibilities include estimating the financial impact of legislative proposals, assessing the President's annual budget, and producing reports on the state of the economy and the federal budget
The CBO plays a critical role in the legislative process by providing cost estimates for proposed legislation, which can significantly influence the passage of laws
The CBO's deficit projections for President Reagan's economic plan in the early 1980s and projections of budget surpluses in the late 1990s influenced discussions on tax policy and Social Security reform
The CBO's analysis of the Affordable Care Act (ACA) played a crucial role in the debate and passage of that legislation, highlighting the agency's ongoing significance in policy-making
The CBO's detailed economic and budgetary projections, based on current laws and economic conditions, allow for a comprehensive evaluation of the potential impacts of legislative proposals
The CBO regularly publishes its Economic Outlook, which includes forecasts for GDP growth, unemployment, inflation, and budget deficits, essential for crafting fiscal policy
The CBO's assessments of the federal debt ceiling help Congress understand the potential consequences of reaching or exceeding this limit and guide decisions on adjusting the ceiling
The CBO's thorough scrutiny of health care legislation, assessing costs, quality, coverage, and sustainability, plays a vital role in the legislative process
The CBO's accurate forecasts of the financial outcomes of policy proposals help ensure that policies are economically viable before they are enacted, safeguarding the economy from potential negative effects
The CBO contributes to the structure of the U.S. government by upholding the principle of checks and balances, mitigating executive branch dominance, and strengthening the legislative branch's oversight capabilities
The CBO's analyses have a profound impact on public debt and economic growth by providing detailed evaluations of policy proposals and informing legislators about the potential effects on these critical economic indicators
00
CBO Establishment Year and Act
Established in 1974 by the Congressional Budget and Impoundment Control Act.
01
CBO Independence
Independent from the executive branch to avoid political bias.
02
CBO Main Responsibilities
Estimate financial impact of bills, assess President's budget, report on economy and federal budget.
Algorino
Edit available
