CBO Director Phillip Swagel testifies before the House Appropriations Committee’s Subcommittee on the Legislative Branch, March 18, 2026. SUMMARY: Chairman Valadao, Ranking Member Espaillat, and Members of the Subcommittee, thank you for the opportunity to present the Congressional Budget Office’s budget request. CBO requests appropriations of $76.3 million for fiscal…
The House Subcommittee on Government Operations has now concluded its March 17, 2026 hearing on “Oversight of the United States Postal Service: The Financial Future Under Postmaster General David Steiner,” and the message emerging from Capitol Hill is unmistakable: the United States Postal Service (USPS) faces mounting financial pressure, and…
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…
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,…
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…
On July 4, 2025, President Donald J. Trump signed into law H.R. 1, the “One Big Beautiful Bill Act,” enacted as Pub. L. No. 119–21, 139 Stat. ___ (2025). Passed through the budget reconciliation process under the Congressional Budget Act of 1974, this comprehensive legislation represents a central pillar of…
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…
From the Congressional Budget Office. June 27, 2025. SUMMARY: CBO provides information regarding the agency’s analysis of an amendment in the nature of a substitute to H.R. 1, the One Big Beautiful Bill Act, as posted on the website of the Senate Committee on the Budget on June 27, 2025…
The legislative branch of the United States government (embodied in Congress, which consists of the House of Representatives and the Senate) is the cornerstone of the federal lawmaking process and a central pillar of the constitutional system of checks and balances. Through its exclusive powers to enact laws, oversee the…