Articles Posted in Congressional Budget Office

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Over the past three months, the Congressional Budget Office has produced a variety of budget and economic analyses, cost estimates, and analytic products, thus fulfilling its core mission of supporting the Congress during each stage of the legislative process. This newsletter is a companion to CBO’s Recent Publications and Work in Progress as of June 30, 2024, which offers a summary of recent publications and those scheduled to be released in the coming months.

CBO also regularly publishes presentations and budget and economic data, which can be found on the agency’s website.

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As reported by the Senate Committee on the Judiciary on May 16, 2024.

Summary:

S. 1979 would prohibit predispute arbitration agreements or joint-action waivers from being valid or enforceable if they require arbitration of an age discrimination dispute. Federal law prohibits employers from discriminating against people who are 40 years of age or older based on their age in any aspect of employment, including hiring, firing, promotion, compensation, job assignments, and training.

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According to the Congressional Budget Office the federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2024, CBO estimates—$38 billion more than the deficit recorded during the same period last fiscal year.

SUMMARY:

The federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2024, the Congressional Budget Office estimates—$38 billion more than the deficit recorded during the same period last fiscal year. Revenues were $294 billion (or 10 percent) higher and outlays were $332 billion (or 8 percent) higher from October through May than during the same period in fiscal year 2023.

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From the Congressional Budget Office (CBO):

June 4, 2024

CBO’s Director, Phillip Swagel, testifies before the House Ways and Means Committee’s Subcommittee on Social Security about the significant financial challenge the program faces in the coming decades

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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.

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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.

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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:

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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.

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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.

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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.

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