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May 29 2013
News
Richest 20 percent get half the overall savings from U.S. tax breaks, CBO says
The 10 largest breaks in the U.S. tax code will save taxpayers more than $900 billion this year, with just over half the benefits flowing to the richest 20 percent of households, congressional budget analysts said Wednesday.
And the richest 1 percent of households, those with at least $327,000 in annual income, get an especially big haul  about 17 percent of the total savings,
Washington PostJun 27 2017
Headline Roundup
CBO Report on Senate Health Care Bill
The Senate Republican health care bill is in jeopardy after the Congressional Budget Office released a devastating report on its impact and multiple Republicans announced they would not vote to advance the legislation.
Reason Vox CNN (Online News)Feb 07 2024
News
Budget office projects Biden green energy plan will cost much more than initial estimate
The U.S. budget deficit will grow by an estimated $1 trillion over the next 10 years, the nonpartisan Congressional Budget Office projected in a new report Wednesday.
Part of that growth will be driven by unexpectedly high costs related to President Joe Biden’s signature policy goal: Reorienting the U.S. economy towards greener energy, the CBO found.
“I came to office determined
CNBCJun 27 2017
News
New CBO Report Says the Senate GOP Health Care Bill Would Make Obamacare's Problems Worse
The Republican health care plan wouldn't solve the problems Republicans say they want to solve.
ReasonFeb 19 2014
News
Would a $10.10 minimum wage really cost 500,000 jobs? Obama and CBO at odds. (+video)
While the White House disputed the CBO's prediction, the overall evidence in the new report did imply that the benefits of the minimum wage hike - higher income and reduced poverty - may outweigh the costs.
Christian Science MonitorFeb 18 2014
News
Minimum Wage Hike Could Lift 900,000 Out Of Poverty But Also Cost Jobs: CBO Report
The Congressional Budget Office released a report Tuesday concluding that the Democrats' proposal to raise the minimum wage would reduce poverty but also cost the economy jobs, providing fodder to both sides of the aisle.
HuffPostDec 28 2023
News
Millions of Americans to Lose Their Jobs in 2024
A Congressional Budget Office (CBO) report on Friday forecasts a rise in U.S. unemployment from the current 3.9 percent to 4.4 percent by the end of 2024, signaling potential job losses for millions amidst a contracting gross domestic product (GDP).
The projected increase in unemployment, affecting an estimated 7.4 million Americans within the workforce, will come amidst economic
NewsweekFeb 01 2021
Headline Roundup
US Economic Productivity to Reach Pre-Pandemic Levels by Mid-2021, CBO Says
U.S. GDP will likely return to pre-pandemic levels in mid-2021 and surpass its potential level in early 2025, according to a Congressional Budget Office report released Monday. The civilian labor force and the employment rate are expected to return to pre-pandemic levels by 2022 and 2024, respectively. Real GDP growth is expected to hit 4.6% in 2021 and then decline, resulting in an average
CNBC Bloomberg Washington ExaminerOct 19 2023
Opinion
Americans Learned a Lesson About Interest Rates. Washington Has Not.
Congress and President Joe Biden's administration seem unaware that rising interest rates are about as "transitory" as they told us inflation would be—meaning, likely to be around for quite a while. Why does this matter? Ask someone who's been enticed by a mortgage with a variable interest rate that starts low and then rises quickly when conditions change.
Over the past month, yields on
ReasonSep 26 2022
Headline Roundup
Biden’s $10,000 Student Loan Relief Plan Would Cost $400 Billion, CBO Estimates
President Joe Biden’s student loan debt relief plan would increase the cost of the federal student loan program by about $400 billion over 30 years, the nonpartisan Congressional Budget Office said Monday.
This cost would add to the federal deficit by reducing the loan repayments taken in by the Treasury each year. The effect would gradually taper off until about 2052, the CBO
Forbes NBC News (Online) Washington Examiner