U.S. CBO

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. cbo.gov/publication/62…

Testimony on the Congressional Budget Office's Request for Appropriations for Fiscal Year 2027 cbo.gov/publication/62… Watch CBO Director Phillip Swagel testify before the House Appropriations Committee's Subcommittee on the Legislative Branch. appropriations.house.gov/schedule/heari…

Use CBO's interactive tool to see how changes in revenues or spending from the agency's February 2026 baseline projections would affect interest outlays, deficits, and debt. cbo.gov/publication/61…

Watch CBO's Director, Phillip Swagel, testify before the Senate Finance Committee's Subcommittee on Fiscal Responsibility and Economic Growth. finance.senate.gov/hearings/the-f…

Testimony on The Budget and Economic Outlook: 2026 to 2036 cbo.gov/publication/62…

The federal budget deficit totaled $1.0 trillion in the first five months of fiscal year 2026, CBO estimates. That amount is $142 billion less than the deficit recorded during the same period last fiscal year. cbo.gov/publication/61…

Presentation about work by Daniel Crown, an analyst in CBO's Long-Term Analysis Unit, and Randall Akee, Harvard University, at Immigrants and the U.S. Economy, a National Bureau of Economic Research conference. cbo.gov/publication/62…

CBO provides information about how the recent Supreme Court ruling on tariffs affects the agency's budget projections. cbo.gov/publication/62…

Using a fair-value approach, CBO estimates that the cost of increasing the United States' financial commitment to the International Monetary Fund is about 1.36 percent of the country's current commitment. cbo.gov/publication/61…

Members of Congress have asked what might cause deficits and debt to be lower than in the baseline projections CBO published two weeks ago. CBO's Director recaps his answers to their questions about economic growth, revenues, and spending. cbo.gov/publication/62…

In lieu of publishing a report providing CBO's latest long-term budget outlook, the agency is publishing the data that it would have presented in that report. cbo.gov/publication/62…

The new code repositories are available on CBO's GitHub page. github.com/us-cbo

As part of our ongoing efforts to enhance transparency, CBO is publishing additional computer code showing details of the modeling underlying our analyses. cbo.gov/publication/62…

CBO estimates that the Hospital Insurance Trust Fund's balance is exhausted in 2040. The balance generally increases through 2031, but spending begins to outstrip income in the following year. cbo.gov/publication/62…

The 2025 reconciliation act included a wide range of provisions that affect policies governing federal revenues and spending. This working paper describes the key methods that CBO used to estimate the law's macroeconomic effects. cbo.gov/publication/61…

CBO highlights its key findings about the outlook for the economy as described in "The Budget and Economic Outlook: 2026 to 2036." cbo.gov/publication/62…

CBO's Director, Phillip Swagel, briefs members of the press on the current budget and economic outlook. cbo.gov/publication/62…

CBO's Director, Phillip Swagel, discusses the current budget and economic outlook and highlights the effects of the 2025 reconciliation act, higher tariffs, and lower immigration on CBO's baseline budget and economic projections. cbo.gov/publication/62…

In CBO's projections, the federal budget deficit in fiscal year 2026 is $1.9 trillion, and federal debt rises to 120 percent of GDP in 2036. Economic growth strengthens in 2026 and moderates in later years. cbo.gov/publication/61…

CBO provides information about how the agency estimates the effects of changes in permitting requirements on private investment. cbo.gov/publication/62…