[United States Government Manual]
[June 15, 2003]
[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                                          Douglas J. Holtz-Eakin
Deputy Director                                   Barry B. Anderson
Principal Associate Director                      William J. Gainer
General Counsel                                   Robert P. Murphy
Assistant Director for Business, Management, and  Daniel F. Zimmerman
        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           Steven M. Lieberman
        Resources
Assistant Director for Macroeconomic Analysis     Robert A. Dennis
Assistant Director for Microeconomic and          Roger E. Hitchner
        Financial Studies
Assistant Director for National Security          J. Michael Gilmore
Assistant Director for Tax Analysis               G. Thomas Woodward

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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 the 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 the 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 or surplus, and the public debt. The Office ``keeps score'' for 
the

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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 on 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.