Congressional Budget Office
Logo of the CBO
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| Agency overview | |
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| Formed | July 12, 1974 |
| Headquarters | Ford House Office Building, 4th Floor Second and D Streets, SW Washington, D.C. 20515 |
| Employees | 235 |
| Annual budget | $46.8 million (FY 2011) |
| Agency executive |
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| Website | www |
The Congressional Budget Office (CBO) is a federal agency within the legislative branch of the United States government that provides budget and economic information to Congress.[1] Inspired by California's Legislative Analyst's Office that manages the state budget in a strictly nonpartisan fashion, the CBO was created as a nonpartisan agency by the Congressional Budget and Impoundment Control Act of 1974.
Contents
History[edit]
The Congressional Budget Office was created by Title II of the Congressional Budget and Impoundment Control Act (P.L. 93-344), which was signed into law by President Richard Nixon on July 12, 1974. Official operations began on February 24, 1975, with Alice Rivlin as director.
Mission[edit]
The Congressional Budget Office is nonpartisan, and produces "independent analyses of budgetary and economic issues to support the Congressional budget process."[2] Each year, the agency releases reports and cost estimates for proposed legislation, without issuing any policy recommendations.
With respect to estimating spending for Congress, the Congressional Budget Office serves a purpose parallel to that of the Joint Committee on Taxation for estimating revenue for Congress, the Department of the Treasury for estimating revenues for the Executive branch. This includes projections on the effect on national debt and cost estimates for legislation.[3]
Operations[edit]
Section 202(e) of the Budget Act requires the CBO to submit periodic reports about fiscal policy to the House and Senate budget committees to provide baseline projections of the federal budget. This is currently done by preparation of an annual Economic and Budget Outlook plus a mid-year update. The agency also each year issues An Analysis of the President's Budgetary Proposals for the upcoming fiscal year per a standing request of the Senate Committee on Appropriations. These three series are designated essential titles distributed to Federal Depository Libraries and are available for purchase from the Government Publishing Office. The CBO often provides testimony in response to requests from various Congressional committees and issues letters responding to queries made by members of Congress.
Divisions[edit]
The Congressional Budget Office is divided into eight divisions.[4]
- Budget Analysis
- Financial Analysis
- Health, Retirement, and Long-Term Analysis
- Macroeconomic Analysis
- Management, Business, and Information Services
- Microeconomic Studies
- National Security
- Tax Analysis
Director[edit]
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The Speaker of the House of Representatives and the President pro tempore of the Senate jointly appoint the CBO Director after considering recommendations from the two budget committees. The term of office is four years, with no limit on the number of terms a director may serve. Either house of Congress, however, may remove the director by resolution. At the expiration of a term of office, the person serving as Director may continue in the position until his or her successor is appointed. The list of directors of the CBO are:[5]
| Name | Term start | Term end |
|---|---|---|
| Rivlin, AliceAlice Rivlin | February 24, 1975 | August 31, 1983 |
| Penner, Rudolph G.Rudolph G. Penner | September 1, 1983 | April 28, 1987 |
| Gramlich, EdwardEdward Gramlich (Acting) | April 28, 1987 | December 1987 |
| Blum, James L.James L. Blum (Acting) | December 1987 | March 6, 1989 |
| Reischauer, RobertRobert Reischauer | March 6, 1989 | February 28, 1995 |
| O'Neill, June E.June E. O'Neill | March 1, 1995 | January 29, 1999 |
| Blum, James L.James L. Blum (Acting) | January 29, 1999 | February 3, 1999 |
| Crippen, DanDan Crippen | February 3, 1999 | January 3, 2003 |
| Anderson, Barry B.Barry B. Anderson (Acting) | January 3, 2003 | February 5, 2003 |
| Holtz-Eakin, DouglasDouglas Holtz-Eakin | February 5, 2003 | December 29, 2005 |
| Marron Jr., Donald B.Donald B. Marron Jr. (Acting) | December 29, 2005 | January 18, 2007 |
| Orszag, Peter R.Peter R. Orszag | January 18, 2007 | November 25, 2008 |
| Sunshine, Robert A.Robert A. Sunshine (Acting) | November 25, 2008 | January 22, 2009 |
| Elmendorf, DouglasDouglas Elmendorf | January 22, 2009 | March 31, 2015 |
| Hall, KeithKeith Hall | April 1, 2015 | present |
See also[edit]
- United States Congress
- United States federal budget
- Office of Management and Budget
- Compare:
- Legislative Analyst's Office (California)
- Parliamentary Budget Officer (Canada)
- National Assembly Budget Office (Korea)
- Office for Budget Responsibility (United Kingdom)
References[edit]
- ^ O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. Upper Saddle River, New Jersey: Pearson Prentice Hall. p. 388. ISBN 0-13-063085-3.
- ^ "Introduction to CBO" (PDF). Congressional Budget Office. Retrieved March 15, 2017.
- ^ CBO overview
- ^ "Staffing and Organization". Congressional Budget Office. Retrieved 19 February 2014.
- ^ "Congressional Budget Office: Appointment and Tenure of the Director and Deputy Director" (PDF).
Further reading[edit]
- Allen Schick, Felix LoStracco The Federal Budget: Politics, Policy, Process. Washington, D.C.: Brookings Institution, 2000.
- Phillip Joyce, "The Congressional Budget Office: Honest Numbers, Power, and Policymaking". Washington, D.C.: Georgetown University Press, 2011.
External links[edit]
- Official website
- CBO Blog
- CBO publications 1975-1999 at the Wayback Machine (archived June 1, 2011) and 2000-
- Congress.org: Meet the scorekeepers of spending
