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1 CBO Explains Budgetary Scorekeeping Guidelines 1 (January 28, 2021)

handle is hein.congrec/cbessby0001 and id is 1 raw text is: CBO Explains Budgetary Scorekeeping Guidelines Congressional Budget Office Nonai-an.c-Isimth A Cnrs JANUARY 2021 When providing budgetary information to the Congress and other audiences, the Congressional Budget Office adheres to laws and rules concerning the federal budget and to a set of principles that include 16 scorekeeping guidelines. This document provides information about four of the guidelines that frequently result in questions to CBO from Congressional staff and others. What Is Scorekeeping? Scorekeeping is the process of developing and recording consistent measures of the budgetary effects-changes in federal spending, revenues, and deficits-of proposed and enacted legis- lation. The process, which has developed over time, is governed by law, precedent, and rules. Scorekeeping recognizes the distinctions among the major categories within the budget and the jurisdictional boundaries between appropriation and authorization legislation: Revenues and direct spending are subject to rules and procedures that differ from those that apply to discretionary spending. A key purpose of scorekeeping is to attribute budgetary effects to the pieces of legislation that cause them, so that rules and procedures for budget enforcement may be applied. Why Were the Guidelines Created? The Congress created the scorekeeping guide- lines to help scorekeepers attribute budgetary effects correctly and to minimize differences among scorekeepers' measurements of specific budgetary effects The guidelines promote con- sistent treatment-over time, across programs, and among the scorekeepers-of proposed or enacted legislation. As long as any changes are approved unanimously, the scorekeepers can revise and expand the guidelines. The 16 current scorekeeping guidelines address a range of budgetary situations, including how to account for transfers of funds between federal programs and how to record government pur- chases, leases, and sales of assets. Who Keeps Score? The House and Senate Committees on the Budget serve as the scorekeepers in the legislative branch. They assess the budgetary effects of proposed legis- lation relative to particular budgetary goals, and they enforce the Congress's budgetary rules. In the executive branch, the Office of Management and Budget records the budgetary effects of enacted laws and enforces rules governing the budget. What Is CBO's Role? The Congressional Budget Office assists the budget committees by providing cost estimates at various points in the legislative process; it has no role in enforcement. CBO's baseline budget projections and cost estimates help the Congress to identify a bill's possible effects on the federal budget and to determine whether legislation would comply with budgetary rules. CBO incorporates estimates from the staff of the Joint Committee on Taxation-the official estimators for tax legislation consid- ered by the Congress. CBO estimates the costs of proposed legislation relative to current law-for revenues and direct spending, as represented by its baseline projections. In developing its cost estimates, CBO applies the scorekeeping guidelines and consults with the scorekeepers as needed. CBO's cost estimates are advisory only; the budget committees can (but need not) use them to achieve budgetary goals. Most of CBO's formal cost estimates are prepared for bills approved by full committees in either chamber, as required by law. Upon request, the agency also can provide preliminary estimates and other tech- nical assistance as a committee considers whether to advance a bill, as amendments are debated, and at other stages in the process. www.cbo.gov 1 0@uscbo

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