    [United States Government Manual]
    [June 01, 2001]
    [Pages 62-64]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    CONGRESSIONAL BUDGET OFFICE

    Second and D Streets SW., Washington, DC 20515

    Phone, 202-226-2600. Internet, www.cbo.gov.
    Director                                          Dan L. Crippen
    Deputy Director                                   Barry B. Anderson
    Executive Associate Director                      Steven M. Lieberman
    General Counsel                                   Bob Murphy
    Associate Director for Business, Management, and  William J. Gainer
            Information Services
    Associate Director for Communications             Melissa Merson
    Associate Director for Research and Reports       Arlene Holen
    Assistant Director for Budget Analysis            Robert A. Sunshine
    Assistant Director for Health and Human           Joseph R. Antos
            Resources
    Assistant Director for Long-Term Modeling         Steven M. Lieberman,
                                                              Acting
    Assistant Director for Macroeconomic Analysis     Robert A. Dennis
    Assistant Director for Microeconomic and          Roger E. Hitchner
            Financial Studies
    Assistant Director for National Security          Christopher Jehn
    Assistant Director for Tax Analysis               G. Thomas Woodward

    ------------------------------------------------------------------------

    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.

    [[Page 63]]

    [GRAPHIC] [TIFF OMITTED] T188578.007

        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 for overall expenditures, budget
    authority and budget outlays, and broad functional categories. The
    Congress also establishes targets for the levels of revenues, the
    deficit, and the public debt. The Office

    [[Page 64]]

    ``keeps score'' for the Congress by monitoring the results of
    congressional action on individual authorization, appropriation, and
    revenue bills against the targets 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 submitting to
    the House and Senate Budget Committees each year a report with respect
    to fiscal policy that includes alternative spending and revenue levels
    and 5-year baseline projections of the Federal budget.
    Federal Mandates  To better assess the impact of laws on State, local,
    and tribal governments and the private sector, the Congress passed the
    Unfunded Mandates Reform Act of 1995. The act amends the Congressional
    Budget Act to require CBO to give authorizing committees a statement
    about whether reported bills contain Federal mandates. If the 5-year
    direct costs of an intergovernmental or private-sector mandate exceed
    specified thresholds, CBO must provide an estimate of those costs (if
    feasible) and the basis of the estimate.
    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 legislation enacted will
    breach categorical spending limits or result in a negative balance under
    the pay-as-you-go system. If so, CBO must then estimate the amount and
    percentage of budgetary 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 Management, Business, and
    Information Services Division, Congressional Budget Office, Second and D
    Streets SW., Washington, DC 20515. Phone, 202-226-2600. Fax, 202-226-
    2714. Internet, www.cbo.gov.