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What is the CBO?

November 5, 2010

Some bill research does not include the Governor's file because at the time we researched the bill, the sitting Governor had not released his chaptered bill file. If the Governor's file is not included with this particular research, please contact our office (1-530-666-1917 or quote@legintent.com) and we will be happy to provide this file at no charge if it is available. Please Note: Governor files did not exist prior to 1943.

Until the creation of the Congressional Budget Office (CBO) in 1974 during the Nixon Administration, the federal government relied on a president’s personal assessments of the economy.  When Congress passed the Congressional Budget and Impoundment Control Act over President Nixon’s veto, this legislation created the CBO to provide Congress with its own independent, non-partisan budget review.  When we research federal bills, we will also include CBO budget analyses where applicable. The CBO’s budget projections give Congress a “baseline” against which to measure the effects of proposed changes in tax and spending laws and does not offer recommendations, although the CBO analyses will include options for changes in spending and taxes that include supporting and opposing arguments. 

The first CBO director was Alice M. Rivlin, who served from 1975 through 1983.    From January 2007 to November of 2008, Peter Orszag served as the 7th Director of the CBO.  The current director is Douglas W. Elmendorf, who took over the CBO on January 22, 2009. 

You can review the latest CBO Summary, entitled “The Budget and Economic Outlook: An Update,” published in August/2010.  This Summary also includes the latest economic projections for years 2010 through to 2020.