An analysis of the accuracy of CBO’s budget projections for fiscal year 2022 (to be released on January 9).In the next few weeks, CBO will release the following additional products: In February, CBO will release its updated economic forecast and baseline projections in The Budget and Economic Outlook: 2023 to 2033. In CBO’s Recent Publications and Work in Progress as of December 31, 2022, the latest in a quarterly series, CBO highlights its recent work and summarizes its work in progress. To learn more about CBO, see An Introduction to the Congressional Budget Office and 10 Things to Know About CBO.
Maintaining a breadth of expertise enables CBO to quickly respond to policymakers’ needs. CBO’s staff also include experts in energy and climate, labor, macroeconomics, microeconomics, national security, and taxes. Most of CBO’s work is available to the Congress and the public on the agency’s website.ĬBO has approximately 275 staff members, with the greatest number of its analysts focused on health policy. Individual Members seeking a review of a bill may submit a request, with any draft language attached or the bill number referenced, by email to hires employees without regard to political affiliation and does not make policy recommendations. When time permits, the agency also provides information to Members’ offices. Those estimates also include statements concerning intergovernmental and private-sector mandates that would be imposed by the legislation.
#Congressional budget office role full
In particular, the Budget Act requires CBO to prepare cost estimates after an authorizing committee orders legislation to be reported for consideration by the full House or Senate. By law, CBO’s primary responsibility is to Congressional committees. CBO also supports other Congressional committees-particularly Appropriations, Finance, and Ways and Means-and the Congressional leadership.Įach year, the agency’s economists and budget analysts fulfill thousands of requests for technical assistance to aid committees and Members developing legislation, produce hundreds of cost estimates for proposed legislation, and prepare dozens of reports and other materials on a variety of topics.
The agency’s chief responsibility under the Budget Act is to help the House and Senate Budget Committees with the matters under their jurisdiction. In carrying out that mission, the agency offers an alternative to the information provided by the Office of Management and Budget and other agencies in the executive branch. Established under the Congressional Budget Act of 1974, CBO is strictly nonpartisan and conducts objective, impartial analysis to support the budget process and to help the Congress make effective budget and economic policy. Lawmakers created CBO to help the Congress play a stronger role in budget matters. Please reach out to me and my colleagues we would be delighted to meet to explain what we do and explore how we can be helpful. As the 118th Congress gets under way, I would like to take a moment to introduce (or reintroduce) the Congressional Budget Office to Members of Congress and Congressional staff.
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