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A Tax Day Review

Today is Tax Day. Federal tax returns are due to the Internal Revenue Service with a postmark before midnight. The Congressional Budget Office (CBO) projects that the federal government will collect $3.2 trillion in revenue this year. Revenue comes from five main sources: Individual Income Taxes ($1.5 trillion). Show More Summary

A Tax Day Review

Nicole Kaeding Today is Tax Day. Federal tax returns are due to the Internal Revenue Service with a postmark before midnight. The Congressional Budget Office (CBO) projects that the federal government will collect $3.2 trillion in revenue this year. Revenue comes from five main sources: Individual Income Taxes ($1.5 trillion). Show More Summary

Federal Taxes, Spending, and the Deficit all Soar Under Obama, Even Worse Than 2014

The Congressional Budget Office is now reporting that Obama has glutted the government causing taxes, spending and the deficit to soar. In fact, it’s even worse for the first half

Breaking News: CBO Says 2011 Pell Grant Costs Still Rising

Today the Congressional Budget Office released its Budget and Economic Outlook: Fiscal Years 2011 Through 2021 (aka the January 2011 Baseline) and delivered some bad news for the Pell Grant program. Lawmakers, students and education advocates alike have been fixated on the fiscal year 2011 Pell Grant, which will cover the 2011-12 academic year. Show More Summary

Senator Alexander's $47 Billion Student Loan Mix-Up

It must have been frustrating for officials at the Congressional Budget Office to read Sen. Lamar Alexander’s op-ed in Sunday’s Washington Post. In the column, the Republican Senator from Tennessee mistakenly cites work done by the CBO...Show More Summary

What Sallie Mae Won’t Tell You About Its Proposal

Sallie Mae has spent the past 15 years vehemently denying that it costs taxpayers more to subsidize banks to make federal student loans than it does for the government to make them directly. But once the Congressional Budget Office announced...Show More Summary

Update: What's Behind New CBO Direct Loan Savings Estimate

The Congressional Budget Office (CBO) has made more details available to Congressional staff about how updates to its baseline estimates for federal program costs will affect a student aid proposal pending in Congress. Higher Ed Watch...Show More Summary

Breaking News: New CBO Estimate Says Student Loan Savings Same, Pell Grant Costs Explode

Last week Higher Ed Watch raised the possibility that new Congressional Budget Office estimates released on Tuesday could complicate the fate of a major student aid bill pending in Congress. With the release of the new estimates -- the January baseline -- and CBO correspondence to a few select Congressional staff, it looks like we were half right. Show More Summary

Who’s Right on Student Loan Cost Estimate?

Congressional Democrats missed a golden opportunity this week. On Monday the Congressional Budget Office (CBO) published a letter to Senate Budget Committee ranking member Judd Gregg (R-NH) regarding the estimated savings of eliminating the Federal Family Education Loan (FFEL) program and making all loans through the Direct Loan program. Show More Summary

News Alert: CBO Finds Administrative Costs to be Higher in FFEL

The Congressional Budget Office (CBO) released student loan estimates this week showing that the federal government spends significantly more to administer the Federal Family Education Loan (FFEL) program than it does to run the U.S....Show More Summary

Laying Out Student Loan Options for CBO

Around this time of year our friends at the Congressional Budget Office (CBO) begin work on an important but overlooked document: the Budget Options report. As most readers know, the Congressional Budget Office provides official cost estimates for legislation considered by Congress. Show More Summary

The FCC Estimates Its New Rules Will Contribute Over $100 Million to the U.S. Economy. Really.

The FCC is required by the Congressional Review Act to provide an economic assessment of its new Open Internet Order to the Office of Management and Budget. Despite injecting a heavy dose of uncertainty on the communications industry, the FCC estimates that its new rules will contribute more than $100 million [...]

John H. Makin, influential economist at AEI, dies at 71

John H. Makin, an economist and resident scholar at the American Enterprise Institute who spent more than a decade as an adviser to the U.S. Congressional Budget Office and Treasury Department, died March 30 in New York City. He was 71.Read full article >>

What do Larry Summers, Doug Elmendorf, and Greg Mankiw have in common?

Only one of us won a John Bates Clark Medal. Only one of us became Director of the Congressional Budget Office. Only one of us wrote a best-selling textbook. But all three of us were ec 10 section leaders early in our careers. Being an ec 10 section leader is one of the best teaching jobs at Harvard. Show More Summary

House Leaders Confident of Passing Medicare Bill

3 weeks agoHealth : NYTimes: Health

The Congressional Budget Office released figures showing that the sweeping changes could add more than $140 billion to federal budget deficits in the coming decade.

Price tag of bipartisan bill averting Medicare doc fee cuts

The nonpartisan Congressional Budget Office estimated Wednesday that the bipartisan bill preventing cuts in doctors’ fees for treating Medicare patients would total $214 billion in costs over the coming decade. Highlights of the CBO analysis (in rounded numbers): PRICE TAG —$175 billion, voids 1997 law that has repeatedly threatened cuts in physicians’ fees and replaces [...]

Obamacare Has Hit only 65% of its 2015 Coverage Target

Here at RedState, we’ve already spilled a lot of digital ink discussing how Obamacare has fallen well short of expectations. Now, we have one more story for that long list. According to the Congressional Budget Office’s latest projection, the ACA will only meet 65% of its 2015 coverage goal. Show More Summary

Dynamic Scoring in the Senate

Senator Rob Portman (R., Ohio) is renewing his push for “dynamic” or “macroeconomic” scoring. The Senate Republican budget includes language, mirroring that adopted by House Republicans, requiring the Congressional Budget Office andShow More Summary

The coming Republican budget blow up

This week, the Congressional Budget Office (CBO) released its assessment of President Obama's proposed budget for fiscal year 2016. For those of us prioritizing economic growth over deficit reduction, the picture is a pretty good one. Show More Summary

Obama 2016 Budget Might Increase US Deficit by 6 Trillion

The nonpartisan Congressional Budget Office reported that Obama’s 2016 proposed budget will decrease the US deficit that year, but will add $6 trillion over the next decade.

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