The Congressional Budget Office's long-term budget outlook shows deficits widening in the years ahead, driven primarily by ...

In a recent long-term analysis, the Congressional Budget Office (CBO) found that extending the 2017 Tax Cuts and Jobs Act ...

The CBO report modeled the effects of permanently codifying the 2017 Tax Cuts and Jobs Act and reducing tax revenue by an additional $150 billion per year.

The Congressional Budget Office (CBO) estimates that the U.S. borrowed $599 billion from January through March 2025 – up $44 billion from January through March 2024. Federal spending, as measured by ...

The mix of slower population growth and unfettered spending will also result in weaker economic growth over the next three ...

The U.S. government will probably risk defaulting on some of its $36.6 trillion in debt as soon as August - or possibly even by late May - unless Congress acts to raise the nation's debt ceiling, the ...

Using this benchmark, we can attribute 71 percent of the 2025 deficit to spending policy decisions and 29 percent to tax policy decisions. In other words, our current deficit problem is rooted in ...

If lawmakers do not raise or suspend the debt limit before all extraordinary measures are exhausted, the government could ...

The federal government could default on its debt as soon as August without action from Congress, the Congressional Budget Office (CBO) estimated on Wednesday. In the latest projection, the ...

The CBO found that if the tax cuts are extended ... additional revenue over the next 10 years relative to the [Congressional Budget Office’s] GDP growth projections that assume the expiration ...