CBO/JCT
Latest
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2025 Reconciliation Resources
Read moreThe 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring...
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Senate Proposes $4.2 Trillion of Tax Cuts
Read moreNote: the Joint Committee on Taxation (JCT) has put together a current law score of the Senate Finance Committee tax proposals, which roughly match...
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Income Growth Would Slow Due to Rising Debt
Read moreA new report from the Congressional Budget Office (CBO) finds rising debt will slow economic growth and result in lower incomes than they would be...
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CBO's First Score of House Reconciliation Bill
Read moreThe Congressional Budget Office (CBO) released its first comprehensive estimate of the House’s Fiscal Year (FY) 2025 reconciliation bill – the One Big...
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CBO Estimates $1.1 Trillion Deficit for First Five Months of FY 2025
Read moreThe United States borrowed $1.1 trillion in the first five months of Fiscal Year (FY) 2025, including $308 billion in the month of February, according...
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Has TCJA Paid For Itself?
Read moreIn early 2018, following passage of the Tax Cuts and Jobs Act (TCJA), the Congressional Budget Office projected revenue collection would total about...
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Putting Numbers to TCJA Dynamic Feedback Estimates
Read moreAs we have pointed out before, extending the various individual and estate tax provisions of the Tax Cuts and Jobs Act (TCJA) beyond their scheduled...
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TCJA Extension Might Not Pay for Any of Itself
Read moreNew data from the Congressional Budget Office (CBO) finds that economic feedback may not cover any of the revenue loss and that TCJA extension might...
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CBO Estimates $255 Billion Deficit for First Month of Fiscal Year 2025
Read moreThe United States borrowed $255 billion in the first month of fiscal year 2025, according to the latest Monthly Budget Review from the Congressional...
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CBO Releases June 2024 Baseline Update
Read moreThe Congressional Budget Office (CBO) today released new ten-year budget and economic projections – an update from its February baseline – again...
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Record Interest Next Year, Record Debt Projected in Just 3 Years
Read moreThe Congressional Budget Office (CBO) released its Update to the Budget and Economic Outlook today, projecting that the national debt will set a new...
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CBO Estimates $1.2 Trillion Deficit for First Eight Months of Fiscal Year
Read moreThe United States borrowed $1.2 trillion in the first eight months of fiscal year 2024, including $348 billion in May, according to the latest Monthly...