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In response to a request from Budget Committee Chairman Jodey Arrington and Congressman Michael C. Burgess, CBO provides information about its analysis of federal policies that affect the development of new drugs in the United States.
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In its May 2022 projections for fiscal year 2023, CBO overestimated revenues by 11 percent and underestimated outlays by 9 percent. CBO’s projection of the federal deficit for 2023 was less than the actual amount by 3.9 percent of GDP.
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CBO provides details about the agency's most recent projections of the economy through 2025, which reflect economic developments as of December 5, 2023.
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CBO responds to questions about the agency's current view of economic growth and interest rates and the implications of that view for the federal budget—as well as about the implications of inflation for workers.
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CBO compared the earnings, personal income, and household income of working-age male veterans who received disability payments from the Department of Veterans Affairs with those of veterans who did not receive such payments.
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CBO examines the status, federal support, and future potential of carbon capture and storage—a process that removes carbon dioxide from the emissions of power plants and industrial facilities and stores it permanently underground.
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The federal budget deficit totaled $383 billion in October and November 2023, the first two months of fiscal year 2024, CBO estimates. That amount is $47 billion more than the deficit recorded during the same period last fiscal year.
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To assess the full costs of federal loans and loan guarantees, CBO has developed a method for estimating the present value of the lifetime administrative costs of certain federal credit programs.
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The House Transportation and Infrastructure Committee's Subcommittee on Highways and Transit convened a hearing at which Chad Shirley, an analyst at CBO, testified. This document provides CBO's answers to questions submitted for the record.
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CBO estimates that eliminating the maintenance backlogs of roughly 20,000 buildings that the Navy uses and maintains in the United States would cost $17 billion. Renovating and modernizing the buildings would cost an additional $32 billion.