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Congressional Budget Office
From Ballotpedia
| Congressional Budget Office | |
| Director: | Phillip Swagel |
| Year created: | 1975 |
| Official website: | Office website |
The Congressional Budget Office is a federal office formed "to provide the budget committees and the Congress with objective, impartial information about budgetary and economic issues."[1] CBO directors are appointed jointly by the president pro tem of the Senate and speaker of the House for a four year term.[2]
History
Budget and Accounting Act of 1921 The Budget and Accounting Act of 1921 established the Bureau of the Budget with the budget to be created each year by the president. Congress, at the time, could not establish, enforce or coordinate the budget or create independent budgetary information.
Congressional Budget and Impoundment Control Act of 1974 The Congressional Budget and Impoundment Control Act of 1974 was passed and went into effect in 1975 by the Nixon administration. The law placed budgetary powers in the hands of Congress, established the House and Senate budget committees and the Congressional Budget Office.[1]
Structure
| Administrative State |
|---|
| Read more about the administrative state on Ballotpedia. |
Mission
The official CBO mission statement is as follows:
| “ | to provide the budget committees and the Congress with objective, impartial information about budgetary and economic issues.[3] | ” |
| —CBO.gov[1] | ||
Leadership
The director as of 2024 was Phillip Swagel.
| Directors of the CBO Full History | ||||||||
|---|---|---|---|---|---|---|---|---|
| CBO Directors | Years in office | President in office during appointment | ||||||
| Alice M. Rivlin | 1975-1983 | Gerald Ford | ||||||
| Rudolph G. Penner | 1983-1987 | Ronald Reagan | ||||||
| Robert D. Reischauer | 1989-1995 | George H.W. Bush | ||||||
| June E. O'Neill | 1995-1999 | Bill Clinton | ||||||
| Dan L. Crippen | 1999-2003 | Bill Clinton | ||||||
| Douglas Holtz-Eakin | 2003-2005 | George W. Bush | ||||||
| Peter R. Orszag | 2007-2008 | George W. Bush | ||||||
| Douglas Elmendorf | 2009-2015 | Barack Obama | ||||||
| Keith Hall | 2015-2019 | Barack Obama | ||||||
| Phillip Swagel | Appointed in 2019 | Donald Trump | ||||||
Role
The CBO produces reports for the House and Senate committees relating to budget and finances and congressional leadership.[2] The most important annual report produced is the Budget and Economic Outlook report produced in January and updated in August each year. The Budget and Economic Outlook report provides Congress and the president a benchmark for budgetary and tax policy by forecasting spending and revenue over the next 10 years under current laws.[4]
Recent news
This section links to a Google news search for the term Congressional + Budget + Office
See also
External links
- Congressional Budget Office website
- Congressional Budget Office on Twitter
- Congressional Budget Office on Youtube
Footnotes
- ↑ 1.0 1.1 1.2 Congressional Budget Office, "Our Founding," accessed April 17, 2014
- ↑ 2.0 2.1 Congressional Budget Office, "Our Organization and People," accessed April 17, 2014
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ Congressional Budget Office, "Budget and Economic Outlook," accessed April 17, 2014
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