The Latest Breaking News from Congressional Budget Office

The Inflation Reduction Act is now law. In the long run, the law is expected to have beneficial effects on deficit reduction as per the Congressional Budget Office. Through extensions of Affordable Care Act subsidies and prescription drug pricing reforms, it aims to decrease health care expenditures for seniors and…

Democrats’ “Inflation Reduction Act” may not do much to immediately tame inflationary price hikes. But the package, an election year turnaround after loftier versions collapsed, will touch countless American lives and secure longtime party goals.

It’s been more than a year in the making and has seen plenty of ups and downs

The Congressional Budget Office says the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast

Senate Minority Leader Mitch McConnell says plans by Democrats to curb drug prices would place socialist price controls between Americans and the treatments they need

Dissecting the president's misleading claims about falling deficits

Congress appears likely to pass legislation that would make millions more veterans eligible for disability and health care benefits.

WASHINGTON — The term “unexplained” doesn’t appear too often in official government documents, unless they are dealing with possible paranormal events, like UFOs. Yet the reference is sprinkled throughout the Congressional Budget Office’s latest budget and economic outlook to describe the recent strength in federal tax receipts that’s blown away…

The Congressional Budget Office says that high inflation will persist into next year