    [United States Government Manual]
    [May 30, 1997]
    [Pages 60-63]
    [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            Arlene Holen

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    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 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 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. The Office ``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 Office prepares multiyear 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 multiyear projections on the costs of continuing
    current Federal spending and taxation policies.

    Annual Report on the Budget  The Office is responsible for furnishing
    the House and Senate Budget Committees 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.

    Federal Mandates  The Office is required to provide a statement to
    authorizing committees as to whether reported bills contain Federal
    intragovernmental or private sector mandates. In legislation that
    contains identifiable Federal mandates, CBO is required to estimate
    their aggregate direct cost, in the fiscal year in which the mandate is
    first effective and in the 4 following years.

    Budget-Related Studies  The 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
    Committee, and the House Ways and Means Committee; and all other
    congressional committees.

    Sequestration Reports  The Office prepares advisory reports mandated by
    the Balanced Budget and Emergency Deficit Control Act of 1985, as
    amended (2 U.S.C. 901), to estimate whether proposed spending levels
    breach categorical spending limits and, if so, to estimate 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.

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