Eric J. Labs, an analyst in CBO’s National Security Division, testifies before the House Homeland Security Committee's Subcommittee on Transportation and Maritime Security on May 7, 2024.
To show how variations in economic conditions might affect its budget projections, CBO analyzed how revenues, outlays, and deficits might change if the values of key economic variables differed from those in the agency’s forecast.
In September 2023, the last remaining investment made by the Treasury through the Troubled Asset Relief Program was repaid, thereby ending the program. CBO estimates that the government’s total subsidy cost was $31 billion.
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.
H.R. 7032, the Congressional Budget Office Data Sharing Act, would amend the Congressional Budget Act of 1974 to clarify and strengthen the agency’s general authority for accessing data from executive branch agencies.
CBO estimates that construction of 18 medium landing ships would cost between $6.2 billion and $7.8 billion in 2024 dollars. CBO’s estimates range from two to roughly three times the Navy’s current estimates.
Between 1980 and 2022, the shipbuilding composite index grew an average of 1.2 percentage points faster per year than the GDP deflator did. Looking ahead, a gap of roughly 1 percentage point would be consistent with historical experience.
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