The Congressional Budget Office (CBO)

The Congressional Budget Office (CBO) is a nonpartisan agency that provides financial and economic analysis to the U.S. Congress. Its main role is to help lawmakers understand the budgetary and economic impacts of proposed legislation. The CBO produces reports and forecasts about federal spending, revenues, and the economy, allowing Congress to make informed decisions. It assesses the costs of potential policies and their effects on the federal budget, ensuring transparency and accountability in government financial matters. Established in 1974, the CBO is essential for effective legislative decision-making and management of the public finances.