Latest United States Congressional Budget Office News

House moves toward OK of Dems' sweeping social, climate bill

Nov. 18, 2021 23:48 PM EST

WASHINGTON (AP) — Democrats brushed aside months-long divisions and approached House passage of their expansive social and environment bill late Thursday, as President Joe Biden and his party neared a defining win in their drive to use their control of government to funnel its resources...

White House confident Biden's bill will pass House this week

Nov. 14, 2021 15:13 PM EST

WASHINGTON (AP) — President Joe Biden’s top economic adviser expressed confidence Sunday that the White House's $1.85 trillion domestic policy package will quickly pass the House this week and said approval couldn’t come at a more urgent time as prices of consumer goods spike. ...

With Dems' prized bill at stake, a numbers game looms ahead

Nov. 13, 2021 00:14 AM EST

WASHINGTON (AP) — Like Hercules and his 12 labors, Democrats’ $1.85 trillion package of social and climate initiatives seems afflicted by a maddening parade of hurdles. Looming ahead is the Congressional Budget Office, which could cause problems that would be messy but probably...

US budget deficit eases to $165B in October, down 42%

Nov. 10, 2021 14:51 PM EST

The U.S. monthly budget deficit fell in October as the government collected more taxes from individuals and corporations thanks to a much improved economy emerging from the coronavirus pandemic. The Treasury Department reported Wednesday that the federal government posted...

Dems end deadlock, House hands Biden infrastructure win

Nov. 06, 2021 01:10 AM EDT

WASHINGTON (AP) — The House approved a $1 trillion package of road and other infrastructure projects late Friday after Democrats resolved a months-long standoff between progressives and moderates, notching a victory that President Joe Biden and his party had become increasingly anxious to...

US budget deficit hits $2.77 trillion in 2021, 2nd highest

Oct. 22, 2021 15:41 PM EDT

WASHINGTON (AP) — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. The deficits in both years reflect trillions of dollars in government spending to counteract the devastating...

Biden bill would put US back on path of reducing uninsured

Oct. 21, 2021 17:42 PM EDT

WASHINGTON (AP) — The Democrats’ social spending and climate change bill would put the United States back on a path to reducing its persistent pool of uninsured people, with estimates ranging from 4 million to 7 million Americans gaining health coverage. Those getting...

What's the price of Biden’s plan? Democrats drive for zero

Sep. 26, 2021 07:29 AM EDT

WASHINGTON (AP) — What will it cost to enact President Joe Biden’s massive expansion of social programs? Congress has authorized spending up to $3.5 trillion over a decade, but Biden is prodding Democrats to fully cover the cost of the legislation — by raising...