A May 13, 2024 presentation at the American Enterprise Institute by the Congressional Budget Office (CBO).
In its work for the Congress, CBO regularly projects budgetary and economic outcomes over the 10-year budget window (the period used in the Congressional budget process) and for an additional 20 years. This presentation highlights key findings from two recent reports on those projections.
Click here to see presentation document.
On April 10, 2024, CBO’s Director, Phillip Swagel, testified before the House Appropriations Committee’s Subcommittee on the Legislative Branch regarding the Congressional Budget Office’s request for appropriations for fiscal year 2025. This posting includes a summary of the Director’s testimony followed by a link to his complete testimony and links to supporting documents.
CBO SUMMARY:
Chairman Amodei, 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 $73.5 million for fiscal year 2025: About 89 percent would be for pay and benefits; 7 percent would be for information technology (IT); and 4 percent would be for training, expert consultant services, office supplies, and other items. The request amounts to an increase of $3.5 million, or 5 percent, from the $70 million that CBO received for 2024. That increase would address increased costs brought about by inflation, sustain investments in IT infrastructure, and enable CBO to expand its staff in key areas.
According to Medicare,” Accountable Care Organizations, or ACOs, are all about providing the best types of care for patients with Medicare, while simultaneously helping to lower the cost of healthcare. They consist of a coordinated group of doctors, hospitals and various types of medical providers who work together for the benefit of the patients they serve, allowing them to get the right care when they need it.” Additionally, their mission is to help control the amount of waste in the Medicare system. This includes patients seeing more than one specialist for the same condition and undergoing the same tests, as well as excessive visits. For additional information related to controlling waste and fraud in the Medicare system see my earlier posting Combating Fraud and Deception: Medicare’s Strategies and Initiatives .
On April 16, 2024, the Congressional Budget Office (CBO)* issued a report, Medicare Accountable Care Organizations: Past Performance and Future Directions, which summarizes recent research findings about Medicare accountable care organizations and the factors that have contributed to or limited their ability to achieve net budgetary savings for the Medicare program. The remainder of this posting includes a summary of this report prepared by the CBO and links to both the complete text of the report and to other publications related to it.
SUMMARY:
This posting includes the Summary and a link to the full text of CBO’s Director, Phillip Swagel’s testimony before the House Appropriations Committee’s Subcommittee on the Legislative Branch. A supporting mission statement is included.
SUMMARY:
Chairman Amodei, 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 $73.5 million for fiscal year 2025: About 89 percent would be for pay and benefits; 7 percent would be for information technology (IT); and 4 percent would be for training, expert consultant services, office supplies, and other items. The request amounts to an increase of $3.5 million, or 5 percent, from the $70 million that CBO received for 2024. That increase would address increased costs brought about by inflation, sustain investments in IT infrastructure, and enable CBO to expand its staff in key areas.
H.R.7156, as ordered reported by the House Committee on Financial Services on February 29, 2024.
CBO Summary:
H.R. 7156 would expand the authority of the Secret Service to investigate financial crimes. Specifically, the bill would authorize the Secret Service to investigate the operations of unlicensed money transmitting businesses—entities that provide money transfer services or payment instruments—and the structuring of financial transactions to evade reporting and recordkeeping requirements.
A presentation by Chapin White, CBO’s Director of Health Analysis, at the David Rogers Health Policy Colloquium, Weill Cornell Medicine.
SUMMARY:
This presentation provides a brief look at Congressional Budget Office’s work related to federal spending on health care and the recent slowdown in the growth of such spending. It also discusses the types of new research that could be useful in explaining that slowdown and in answering other health-related questions for the Congress. It contains important information for all who are interested in monitoring research related to this subject.
The following is information compiled by the Congressional Budget Office (CBO) regarding H.R.7322, Standing Up to the Executive Branch for Act 2024, as ordered reported by the House Committee of the Judiciary on February 15. 2024. It includes a brief summary of the bill, and links to estimated cost of implementation and the full text of the legislation:
SUMMARY:
H.R. 7322 would grant standing to state governments to bring action against the federal government in a federal district court for the purpose of seeking injunctive relief from immigration enforcement decisions that have harmed the state or its residents.
Projections of the Congressional Budget Office,
“The Congressional Budget Office regularly publishes reports presenting its baseline projections of what the federal budget and the economy would look like in the current year and over the next 10 years if laws governing taxes and spending generally remained unchanged. This report is the latest in that series.”
“In CBO’s projections, federal budget deficits total $20 trillion over the 2025–2034 period and federal debt held by the public reaches 116 percent of GDP. Economic growth slows to 1.5 percent in 2024 and then continues at a moderate pace.”
Today 1/19 we received the following posting from Deborah Kilroe of the Congressional Budget Office (CBO) announcing the release of its budget outlook on February 7. We are forwarding this announcement as a service to our readers:
The Congressional Budget Office will release The Budget and Economic Outlook: 2024 to 2034 at 2:00 p.m. EST on Wednesday, February 7. In December 2023, CBO released details about its forthcoming economic projections, focusing on the near term. Next month’s report will include the agency’s full 10-year economic forecast, as well as its updated 10-year budget projections. CBO last published budget projections in May 2023.
A briefing for credentialed members of the press will be held from 3:00 p.m. to 4:00 p.m. on February 7. CBO’s Director, Phillip Swagel, will make brief remarks and then answer questions about the report. More information about the briefing will soon be available on CBO’s press page.
A presentation by Congressional Budget Office (CBO) analysts Rebecca Heller, Shannon Mok, and James Pearce, and Census Bureau research economist Jonathan Rothbaum at the American Economic Association Annual Meeting, Committee on Economic Statistics on January 5, 2024. According to the CBO, the purpose of this presentation is to summarize preliminary work conducted by CBO and the Census Bureau as part of CBO’s ongoing efforts to increase its capacity to analyze budgetary and economic outcomes for various demographic groups.
INTRODUCTION TO PRESENTATION:
Internal Revenue Service (IRS) data provide high-quality measures of income and are useful for studying how the tax system affects households. But those
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