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 a group of private-sector professionals, known as the “Behind the Tree” tax group.
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:
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 defer to an agency’s interpretation of a law if it’s deemed reasonable, and instead require courts to review legal questions de novo, meaning without deference to the agency’s interpretation.
COST ESTIMATE LETTER JULY 9 2025
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:
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 (https://tinyurl.com/2ejs4ut5).
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 provide information concerning outlays for the government’s major mandatory programs and tax credits that are primarily means-tested; that is, for programs and tax credits that provide cash payments or other forms of assistance to people with relatively low income or few assets.
From the Congressional Budget Office (CBO), June 12, 2025:*
OVERVIEW:
“This interactive tool illustrates the distributional effects of H.R. 1, the One Big Beautiful Bill Act. It allows users to explore how H.R. 1, as passed by the House of Representatives on May 22, 2025, would affect the economic resources available to households grouped on the basis of their income. (See CBO’s estimate of the budgetary effects of the bill.)
Congressional Budget Office (CBO) Report, June 5, 2025.
CBO estimates that debt-service costs under H.R. 1, the One Big Beautiful Bill Act, would total $551 billion over the 2025–2034 period—increasing the bill’s cumulative effect on the deficit to $3.0 trillion.
Summary:
As ordered by the House Committee on Oversight and Government Reform on March 25, 2025.
From the Congressional Budget Office (CBO) :
H.R. 1295 would reauthorize and expand through December 2026 the authority for the President to develop a government reorganization plan and submit that plan to the Congress under an expedited legislative procedure. Under the bill, such a plan could include reducing the federal workforce, decreasing the cost and burden of regulatory compliance, and eliminating government operations that are not in the public interest. The bill also would expand the number of agencies subject to such a reorganization.
Congressional Budget Office’s transparency efforts are intended to promote a thorough understanding of its work, help people gauge how estimates might change if policies or circumstances differed, and enhance the credibility of its analyses and processes
SUMMARY:
Transparency is a top priority for the Congressional Budget Office, and the agency continues to bolster its efforts to be transparent. Those efforts are intended to promote a thorough understanding of CBO’s work, help people gauge how estimates might change if policies or circumstances differed, and enhance the credibility of the agency’s analyses and processes.
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