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[[File:Introduction_to_the_Congressional_Budget_Office.webm|thumb|Introduction_to_the_Congressional_Budget_Office.webm]] [[file:Ford_House_Office_Building,_Washington,_DC_(2006).jpg|right|thumb|Ford_House_Office_Building,_Washington,_DC_(2006)]]   {{short description|Nonpartisan agency of the United States Congress}}
[[File:Introduction to the Congressional Budget Office.webm|thumb]] [[File:Ford House Office Building, Washington, DC (2006).jpg|thumb]] Congressional Budget Office
{{Infobox government agency
| agency_name = Congressional Budget Office
| logo = Congressional Budget Office logo.png
| logo_width = 200px
| formed = [[July 12]], [[1974]]
| jurisdiction = [[United States Congress]]
| headquarters = [[Ford House Office Building]], [[Washington, D.C.]]
| employees = 235 (as of 2021)
| budget = $57.3 million (FY 2021)
| chief1_name = [[Phillip Swagel]]
| chief1_position = Director
| website = [https://www.cbo.gov/ www.cbo.gov]
}}


The '''Congressional Budget Office''' ('''CBO''') is a nonpartisan agency within the [[United States Congress]] that provides budget and economic information to Congress. Established by the [[Congressional Budget and Impoundment Control Act of 1974]], the CBO's primary mission is to provide Congress with objective, timely, and nonpartisan analyses needed for economic and budget decisions.
The Congressional Budget Office (CBO) is a nonpartisan agency within the legislative branch of the United States government. It provides budgetary and economic information to Congress, aiding in the legislative process by offering objective analyses and estimates of the fiscal impact of proposed legislation.


==History==
== History ==
The CBO was created as part of the [[Congressional Budget and Impoundment Control Act of 1974]] to strengthen Congress's role in the budget process. The agency was established to provide Congress with its own source of budgetary and economic information, independent of the [[Executive Branch]].
The CBO was established in 1974 by the Congressional Budget and Impoundment Control Act. This act was a response to growing concerns about the need for Congress to have its own independent source of budgetary information, separate from the executive branch. The first director of the CBO was Alice Rivlin, who served from 1975 to 1983.


==Functions==
== Mission and Functions ==
The CBO's primary functions include:
The primary mission of the CBO is to provide Congress with nonpartisan analyses for economic and budget decisions and with estimates required for the Congressional budget process. The CBO performs several key functions:
* Preparing [[baseline]] budget projections
* Analyzing the President's budget proposals
* Estimating the cost of proposed legislation
* Conducting long-term budget projections
* Providing economic forecasts


==Leadership==
* '''Budgetary Analysis''': The CBO prepares reports and analyses of the federal budget, including projections of future budgetary outcomes under current law.
The CBO is headed by a director, who is appointed jointly by the [[Speaker of the United States House of Representatives|Speaker of the House]] and the [[President pro tempore of the United States Senate|President pro tempore of the Senate]]. The director serves a four-year term and can be reappointed.
* '''Economic Forecasting''': The CBO provides economic forecasts that include projections of GDP growth, unemployment, inflation, and other key economic indicators.
* '''Cost Estimates''': The CBO provides cost estimates for proposed legislation, which are crucial for the Congressional budget process.
* '''Long-term Projections''': The CBO also provides long-term budgetary projections, which help Congress understand the potential future impact of current policies.


==Reports==
== Structure ==
The CBO produces a variety of reports, including:
The CBO is headed by a director, who is appointed jointly by the Speaker of the House of Representatives and the President pro tempore of the Senate. The director serves a four-year term and can be reappointed. The CBO staff is composed of economists, public policy analysts, and other professionals who work to provide accurate and timely information to Congress.
* The [[Budget and Economic Outlook]], which provides projections for the federal budget and the economy
* The [[Long-Term Budget Outlook]], which examines the long-term fiscal challenges facing the United States
* Cost estimates for proposed legislation, which help Congress understand the potential financial impact of new laws


==Impact==
== Reports and Publications ==
The CBO's analyses and reports are widely respected and used by policymakers, researchers, and the public. The agency's work helps ensure that Congress has the information it needs to make informed budgetary and economic decisions.
The CBO regularly publishes reports that are available to the public. These include:


==Related Pages==
* '''The Budget and Economic Outlook''': An annual report that provides projections for the federal budget and the economy over the next ten years.
* '''An Analysis of the President's Budget''': A report that analyzes the budgetary proposals of the President.
* '''Long-Term Budget Outlook''': A report that examines the long-term fiscal challenges facing the United States.
 
== Impact and Criticism ==
The CBO is widely respected for its nonpartisan and objective analyses. However, it has faced criticism from various political groups, often depending on whether its analyses support or contradict their policy positions. Despite this, the CBO's work is considered essential for informed legislative decision-making.
 
== Also see ==
* [[United States Congress]]
* [[United States Congress]]
* [[Congressional Budget and Impoundment Control Act of 1974]]
* [[Budget of the United States government]]
* [[Office of Management and Budget]]
* [[Office of Management and Budget]]
* [[Government Accountability Office]]
* [[Federal Budget Process]]
* [[Economic Policy]]
 
{{Congressional agencies}}
{{United States government}}


[[Category:United States government agencies]]
[[Category:United States government agencies]]
[[Category:Government agencies established in 1974]]
[[Category:Congressional Budget Office]]
[[Category:United States federal budgets]]
[[Category:Budget of the United States government]]
[[Category:Nonpartisan organizations in the United States]]
 
{{US-gov-stub}}

Latest revision as of 15:26, 9 December 2024

File:Introduction to the Congressional Budget Office.webm

Congressional Budget Office

The Congressional Budget Office (CBO) is a nonpartisan agency within the legislative branch of the United States government. It provides budgetary and economic information to Congress, aiding in the legislative process by offering objective analyses and estimates of the fiscal impact of proposed legislation.

History[edit]

The CBO was established in 1974 by the Congressional Budget and Impoundment Control Act. This act was a response to growing concerns about the need for Congress to have its own independent source of budgetary information, separate from the executive branch. The first director of the CBO was Alice Rivlin, who served from 1975 to 1983.

Mission and Functions[edit]

The primary mission of the CBO is to provide Congress with nonpartisan analyses for economic and budget decisions and with estimates required for the Congressional budget process. The CBO performs several key functions:

  • Budgetary Analysis: The CBO prepares reports and analyses of the federal budget, including projections of future budgetary outcomes under current law.
  • Economic Forecasting: The CBO provides economic forecasts that include projections of GDP growth, unemployment, inflation, and other key economic indicators.
  • Cost Estimates: The CBO provides cost estimates for proposed legislation, which are crucial for the Congressional budget process.
  • Long-term Projections: The CBO also provides long-term budgetary projections, which help Congress understand the potential future impact of current policies.

Structure[edit]

The CBO is headed by a director, who is appointed jointly by the Speaker of the House of Representatives and the President pro tempore of the Senate. The director serves a four-year term and can be reappointed. The CBO staff is composed of economists, public policy analysts, and other professionals who work to provide accurate and timely information to Congress.

Reports and Publications[edit]

The CBO regularly publishes reports that are available to the public. These include:

  • The Budget and Economic Outlook: An annual report that provides projections for the federal budget and the economy over the next ten years.
  • An Analysis of the President's Budget: A report that analyzes the budgetary proposals of the President.
  • Long-Term Budget Outlook: A report that examines the long-term fiscal challenges facing the United States.

Impact and Criticism[edit]

The CBO is widely respected for its nonpartisan and objective analyses. However, it has faced criticism from various political groups, often depending on whether its analyses support or contradict their policy positions. Despite this, the CBO's work is considered essential for informed legislative decision-making.

Also see[edit]

Template:Congressional agencies Template:United States government

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