Overview of the CBO Report Congressional Budget Office — Immigrant Earnings Assimilation, 1981–2021 (Report No. 62202, March 2026) The report analyzes how immigrants’ earnings evolve after arriving in the United States and how closely their wages eventually approach those of U.S. born workers. Using several decades of census and survey…
As ordered by the House Committee on the Judiciary on November 20, 2025. Cost estimate by the Congressional Budget Office (CBO) February 27, 2026:* H.R. 2675 would make it unlawful for a foreign state or sovereign wealth fund to directly or indirectly fund a civil lawsuit in the United States in…
A Report from the Congressional Budget Office, January 30, 2026. The House Committee on the Budget convened a hearing at which Phillip L. Swagel, CBO’s Director, testified about the agency’s work. This document provides CBO’s answers to questions submitted for the record after the hearing. SUMMARY: On November 18, 2025,…
A Congressional Budget Report, January 13, 2026. Learn more about CBO’s work and its processes in a publication that is typically updated at the start of each Congress or a new session. SUMMARY: Lawmakers created the Congressional Budget Office to help Congress play a stronger role in budget matters. CBO…
Congressional Budget Office (CBO)* Report. January 7, 2026. In CBO’s projections, the U.S. population grows from 349 million people in 2026 to 364 million in 2056, and the average age rises. Starting in 2030, annual deaths exceed annual births, and net immigration accounts for all population growth. SUMMARY: The size…
An Update from the Congressional Budget Office. * INTRODUCTION: The Congressional Budget Office’s November 2025 update shows that rapidly changing tariff policies have significantly reshaped federal budget projections. As of mid November, the effective U.S. tariff rate is about 14 percentage points higher than a year earlier, and CBO now…
September 11-18, 2025 Over the past week, Philip Swagel participated in several events where he highlighted Congressional Budget Office’s* role, discussed recent analyses, and engaged with audiences on topics ranging from tax policy to long-term fiscal challenges. On September 11, he joined a breakfast discussion on tax policy hosted by…
From the Congressional Budget Office (CBO), July 18, 2025. CBO was asked to assess the effects of a permanent 10 percent reduction in NIH funding and a nine-month increase in FDA review times of new drug applications. SUMMARY STATEMENT: “CBO provides information about how changes to funding for the National…
Congressional Budget Office (CBO) Cost Estimate July 9, 2025. In the context of the US Congress, SOPRA refers to the Separation of Powers Restoration Act. It’s a legislative proposal aimed at amending the Administrative Procedure Act to change how courts review agency actions. Specifically, SOPRA seeks to eliminate the practice of “Chevron deference,” where courts…
Report from the Congressional Budget Office (CBO): July 9, 2025. The federal budget deficit totaled $1.3 trillion in the first nine months of fiscal year 2025, CBO estimates. That amount is $65 billion more than the deficit recorded during the same period last fiscal year. SUMMARY: The federal budget deficit…