A Congressional Budget Office Report, March 19, 2026. CBO estimates that the effects on direct spending and revenues of laws enacted in the first session of the 119th Congress will reduce outlays and decrease revenues from 2025 to 2034, which will increase the deficit by $3.5 trillion SUMMARY: This report…
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…
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,…
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…
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…
In this June 18, 2025 Report, the Congressional Budget Office (CBO) provides information concerning outlays for the government’s major mandatory programs and tax credits that are primarily means-tested and provide assistance to people with relatively low income or few assets. Summary: House Budget Committee Chairman Arrington has asked CBO to…