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The Congressional Budget Office's Work in 2015: A Report to the Congress 1 (April 12, 2016)

handle is hein.congrec/cbo2871 and id is 1 raw text is: ,, .... / APRIL 2016 The Congressional Budget Office's Work in 2015: A Report to the Congress The Congressional Budget Office was established under the Congressional Budget Act of 1974 to provide information that would support the Congressional budget process and help the Congress make effective budget and economic policy. CBO provides estimates and other analyses in response to requests from the Committees on the Budget; the Committees on Appropriations; the House Committee on Ways and Means and the Senate Committee on Finance; other committees; and the leadership of the House and Senate. The agency is committed to providing information that is: Objective-representing not the personal opinions of CBO staff but the consensus and diversity of views of experts from around the country; Insightful-making use of the best new evidence and innovative ideas as well as the lessons of experience; Timely-providing a response as quickly as possible to the needs of the Congress; and Clearly presented and explained-so that policymakers and analysts understand the basis for the agency's findings and have the opportunity to question the assumptions used. In keeping with CBO's mandate to provide analysis that is objective as well as impartial, the agency makes no policy recommendations. Instead, it strives to present fully and fairly the likely consequences of alternative proposals being considered by the Congress so that the Congress can make informed policy choices. To fulfill its mission to serve the Congress, CBO does the following: Analyzes trends and recent developments related to federal spending and revenues, and constructs budget projections for the next 10 years and the longer term; Estimates the cost of legislative proposals-which involves providing formal cost estimates for all bills reported by committees of the House and Senate (most of which included estimates of the cost of intergovernmental and private-sector mandates), many more informal cost estimates while legislation is being developed, estimates of the cost of all appropriation bills, and estimates of the cost of numerous amendments as legislation is considered by the House and Senate; Prepares projections of budgetary and economic outcomes for the coming decade and reports describing them; Examines the effects of the President's budgetary proposals and numerous alternative policy choices for the budget and the economy, including many options being considered by the budget committees in the course of developing a budget resolution; Conducts policy studies of governmental activities that have significant budgetary and economic impacts-which involves analyzing Social Security, Medicare, Medicaid, other benefit programs, national security, energy policy, environmental issues, tax policy, labor markets, education policy, housing policy, government credit programs, infrastructure, immigration policy, and many other topics; and

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