[United States Government Manual]
[July 01, 1995]
[Pages 63-65]
[From the U.S. Government Publishing Office, www.gpo.gov]




CONGRESSIONAL BUDGET OFFICE

Second and D Streets SW., Washington, DC 20515
Phone, 202-226-2621
Director                                         June E. O'Neill
Deputy Director                                  James L. Blum
General Counsel                                  Gail Del Balzo
Director, Office of Intergovernmental Relations  Stanley L. Greigg
Assistant Director for Budget Analysis           Paul N. Van de Water
Assistant Director for Macroeconomic Analysis    Robert A. Dennis
Assistant Director for Tax Analysis              Rosemary Marcuss
Assistant Director for Natural Resources and     Jan Paul Acton
    Commerce
Assistant Director for Health and Human          Joseph R. Antos
    Resources
Assistant Director for National Security         Cindy Williams
Assistant Director for Special Studies           Robert W. Hartman
________________________________________________________________________
The Congressional Budget Office provides the Congress with assessments 
of the economic impact of the Federal budget.

The Congressional Budget Office (CBO) was established by the 
Congressional Budget Act of 1974 (2 U.S.C. 601), which also created a 
procedure by which the United States Congress considers and acts upon 
the annual

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Federal budget. This process enables the Congress to have an overview of 
the Federal budget and to make overall decisions regarding spending and 
taxing levels and the deficit or surplus these levels incur.
    The Congressional Budget Office provides Congress with basic budget 
data and with analyses of alternative fiscal, budgetary, and 
programmatic policy issues.

Activities

Economic Forecasting and Fiscal Policy Analysis  The Federal budget 
affects and is affected by the national economy. The Congressional 
Budget Office provides Congress with biannual forecasts of the economy 
and analyses of economic trends and alternative fiscal policies.
Scorekeeping  Under the budget process the Congress establishes, by 
concurrent resolution, targets (or ceilings) for overall expenditures, 
budget authority and budget outlays, and for broad functional 
categories. The Congress also establishes targets (or ceilings) for the 
levels of revenues, the deficit, and the public debt. CBO ``keeps 
score'' for the Congress by monitoring the results of congressional 
action on individual authorization, appropriation, and revenue bills 
against the targets (or ceilings) specified in the concurrent 
resolution.
Cost Projections  The Congressional Budget Office prepares 5-year cost 
estimates for carrying out any public bill or resolution reported by 
congressional committees. As soon as practicable after the beginning of 
each fiscal year, CBO also provides 5-year projections on the costs of 
continuing current Federal spending and taxation policies.
Annual Report on the Budget  The Congressional Budget Office is 
responsible for furnishing the House and Senate Budget Committees by 
February 15 of each year with a report that includes a discussion of 
alternative spending and revenue levels and alternative allocations 
among major programs and functional categories, all in the light of 
major national needs and the effect on the balanced growth and 
development of the United States.
Budget-Related Studies  The Congressional Budget Office undertakes 
studies requested by the Congress on budget-related areas. This service 
is provided in the following order of priority to: the House and Senate 
Budget Committees; the House and Senate Appropriations Committees; the 
Senate Finance and the House Ways and Means Committees; and all other 
congressional committees.
Sequestration Reports  These advisory reports are mandated by the 
Balanced Budget and Emergency Deficit Control Act of 1985, as amended (2 
U.S.C. 901). These reports estimate whether proposed spending levels 
breach categorical spending limits or cause a deficit in excess of the 
target and, if so, it estimates the amount and percentage of budget 
resources that should be sequestered to eliminate any excesses.
Pay-As-You-Go  The Balanced Budget and Emergency Deficit Control Act of 
1985, as amended (2 U.S.C. 901), requires CBO to provide the Office of 
Management and Budget with an estimate of the amount of change in 
outlays or receipts for each fiscal year for any direct spending or 
receipts legislation as soon as practicable after Congress completes 
action on that legislation.

For further information, contact the Office of Intergovernmental 
Relations, Congressional Budget Office, Second and D Streets SW., 
Washington, DC 20515. Phone, 202-226-2600.