Taxes
- Report
Answers to Questions for the Record Following a Hearing on Social Security’s Finances
The Senate Committee on the Budget convened a hearing at which Phillip L. Swagel, CBO's Director, testified about Social Security’s finances. This document provides CBO’s answers to questions submitted for the record.
- Cost Estimate
H.R. 3938, Build It in America Act
As reported by the House Committee on Ways and Means on June 30, 2023
- Blog Post
A Call for New Research in the Area of Taxes and Transfers
To enhance its work for the Congress, CBO is looking for new research on how changes in federal policy affect different households, and how taxes affect the way businesses are legally structured.
- Report
The Long-Term Budget Outlook Under Alternative Scenarios for the Economy and the Budget
CBO analyzed eight scenarios that differ from those underlying the agency’s long-term baseline budget projections—six that vary economic outcomes, one that varies budgetary outcomes, and one that limits Social Security benefits.
- Presentation
Projected Effects of Federal Policies on the Demand for Electric Vehicles and the Supply of Charging Stations
Presentation by David H. Austin, an analyst in CBO’s Microeconomic Studies Division, at the 2023 Conference of the Western Economic Association International.
- Report
CBO’s Economic Forecasting Record: 2023 Update
CBO assesses its two-year and five-year economic forecasts and compares them with forecasts of the Administration and the Blue Chip consensus, an average of about 50 private-sector forecasts.
- Cost Estimate
H.R. 3936, Tax Cuts for Working Families Act
As ordered reported by the House Committee on Ways and Means on
June 13, 2023 - Cost Estimate
H.R. 3937, Small Business Jobs Act
As ordered reported by the House Committee on Ways and Means on
June 13, 2023 - Report
CBO’s 2023 Long-Term Projections for Social Security
In CBO’s projections, spending for Social Security increases relative to GDP over the next 75 years, and the gap between outlays and revenues widens. If combined, the program’s trust funds would be exhausted in fiscal year 2033.
- Report
The 2023 Long-Term Budget Outlook
The U.S. faces a challenging fiscal outlook in the coming years, according to CBO's projections. Measured as a percentage of GDP, large and sustained deficits lead to high and rising federal debt that exceeds any previously recorded level.