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- Working Paper
The results of this analysis indicate that tax changes have significant effects on labor market outcomes, but those effects vary depending on the state of the economy at the time a tax change is implemented.
- Report
The average error for CBO’s budget-year revenue projections is 1.2 percent, indicating the agency has tended to slightly overestimate revenues. For the agency’s sixth-year revenue projections, the average error is greater—5.6 percent.
- Report
CBO projects that from 2020 to 2030, annual real GDP will be 3.4 percent lower, on average, than it projected in January. The annual unemployment rate, which was projected to average 4.2 percent, is now projected to average 6.1 percent.
- Report
In this letter, CBO describes the characteristics—race, sex, age, education, and household earnings—of the 19 million people who are expected to receive regular unemployment benefits in July 2020.
- Blog Post
The report will provide CBO’s first complete set of 10-year economic projections since January. It will update the interim projections that the agency published in May, which focused on 2020 and 2021.
- Working Paper
This paper describes CBO’s methods for estimating the costs of the federal terrorism risk insurance program. It also discusses how estimates of the program’s budgetary effects would differ if they were produced using accrual-based measures rather than cash-based measures.
- Report
CBO examines four laws enacted in response to the 2020 coronavirus pandemic and summarizes their effects on federal spending, revenues, and the deficit. CBO also provides details about the laws’ effects on discretionary spending, mandatory spending, revenues, and mandates.
- Report
In this letter, CBO responds to questions about the economic outlook, describing how its projections of U.S. gross domestic product have declined since January and how recent legislation will affect the economy.
- Report
The CARES Act granted a temporary increase of $600 per week in the benefit amount provided by unemployment programs. In this letter, CBO examines the economic effects of extending that increase from July 31, 2020, to January 31, 2021.
- Report
In 2018, 46 million people living in the United States—or 14 percent of the population—had been born in other countries. CBO examines the employment and earnings of men and women by their legal immigration status, level of education, and birthplace.