[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.