Category Archives: CBO

Manchin Introduces the Jobs Score Act

Senator Joe Manchin (D-WV) introduced the Jobs Score Act today, according to a press release from his office.

His bill would require the “Congressional Budget Office (CBO) to determine the number of jobs that would be created, protected, or lost should a specific piece of legislation become law – so lawmakers can take jobs into account as their top priority.”

The release notes that the “government already requires that bills be ‘scored’ for the amount of money that each will cost.”

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Filed under CBO, Jobs

CBO Says Budget Deal Won’t Cut Much This Year

A new “budget estimate released Wednesday shows that the spending bill negotiated between President Barack Obama and House Speaker John Boehner would produce less than 1 percent of the $38 billion in claimed savings by the end of this budget year,” the AP reports.

The Congressional Budget Office estimate shows that compared with current spending rates the spending bill due for a House vote Thursday would pare just $352 million from the deficit through Sept. 30. About $8 billion in cuts to domestic programs and foreign aid are offset by nearly equal increases in defense spending.

[…]

The CBO study confirms that the measure trims $38 billion in new spending authority, but many of the cuts come in slow-spending accounts like water-and-sewer grants that don’t have an immediate deficit impact.

The measure “appears on track to pass the House and Senate this week before a stopgap spending measure expires Friday at midnight despite opposition from some of the GOP’s most ardent budget cutters.”

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Filed under Budget, CBO, Continuing Resolution

Elmendorf Appointed to Full Term at CBO

The director of the “nonpartisan Congressional Budget Office, Douglas W. Elmendorf, has been appointed to a full four-year term by the House speaker, John A. Boehner of Ohio, and the Senate president pro tempore, Daniel K. Inouye of Hawaii, officials announced on Wednesday,” according to the New York Times.

Mr. Elmendorf, a well-regarded economist and former Clinton administration official who also previously worked at the Federal Reserve, recently completed the term of Peter R. Orszag, who had left the director’s post to serve as President Obama’s budget director.

The new term “will run through January 13, 2015.”

Senate Budget Committee Chairman Kent Conrad (D-ND) offered this press release response:

“I am very pleased that Douglas Elmendorf is being reappointed as Director of the Congressional Budget Office.  Over the last two years, Director Elmendorf has done an outstanding job.  He has led the agency during one of the most challenging periods ever faced by CBO, a period of economic upheaval and significantly increased legislative activity.  Throughout this time, Director Elmendorf has demonstrated the highest standards of professionalism, and consistently provided Congress with accurate and timely information.                      

“Director Elmendorf has also upheld the important non-partisan nature of CBO’s work.  He has been an unbiased and fair umpire, calling it like he sees it, regardless of the political fallout.  His joint reappointment by a Democratically-controlled Senate and Republican-controlled House speaks volumes to the trust and respect he has earned on both sides of the aisle.  He is exactly the kind of leader we need at CBO.  I look forward to continuing to work with Director Elmendorf in the months ahead.”          

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Filed under Appointments, CBO