Criminal Law Library BlogFrom the Congressional Budget Office (CBO)
A presentation by Lara Robillard, an analyst in CBO’s Budget Analysis Division, at AcademyHealth’s Health Policy Orientation.
SUMMARY:
Articles Posted in Legislative Information
Monthly U.S. Budget Review: July 2024
Congressional Budget Office (CBO)*: The federal budget deficit was $1.5 trillion in the first 10 months of fiscal year 2024, CBO estimates—$103 billion less than the deficit recorded during the same period last fiscal year.
SUMMARY:
“The federal budget deficit was $1.5 trillion in the first 10 months of fiscal year 2024, the Congressional Budget Office estimates—$103 billion less than the deficit recorded during the same period last fiscal year. Revenues were $397 billion (or 11 percent) higher and outlays were $293 billion (or 6 percent) higher from October through July than they were during the same period in fiscal year 2023.
CBO: Protecting Older Americans Act of 2023
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.
The Outlook for the U.S. Budget and Economy: 2024 and Beyond
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.
Testimony on Congressional Budget Office’s Request for Appropriations for Fiscal Year 2025
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.
Combating Money Laundering Act of 2024
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.
H.R. 7322,Standing Up to the Executive Branch for Act of 2024
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.
CBO Scheduled To Release Budget and Economic Outlook From 2024 to2034
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.
CBO: Implementing the Statutory Limits on Discretionary Funding for Fiscal Year 2024
In this document, the Congressional Budget Office (CBO) provides information concerning implementation of the caps on most discretionary funding for fiscal year 2024 as established by the Fiscal Responsibility Act of 2023.
Summary of Document:
In this document, a letter from Philip L. Swagel, Director of the Congressional Budget Office, The Congressional Budget Office is providing information concerning implementation of the caps on most discretionary funding for fiscal year 2024 as established by the Fiscal Responsibility Act of 2023 (FRA; Public Law 118-5). The FRA sets separate caps (in law they are called limits) on defense funding (in law, revised security, which is budget function 050) and on nondefense funding (revised nonsecurity, which covers all other budget functions).
Congressional Budget Office: The Accuracy of CBO’s Budget Projections for 2023
December 15, 2023
The Congressional Budget reports that its May 2022 projections for fiscal year 2023, CBO overestimated revenues by 11 percent and underestimated outlays by 9 percent. CBO’s projection of the federal deficit for 2023 was less than the actual amount by 3.9 percent of GDP.
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