Thursday, June 28, 2018

10 Things About CBO

From Congressional Budget Office, "10 Things to Know About CBO," June 28, 2018, Presentation by Dorian Carloni, an analyst with CBO’s Tax Analysis Division, at Le Printemps de l’√Čvaluation at the French National Assembly:
Since 1975, CBO has produced independent analyses of budgetary and economic issues to support the Congressional budget process. Each year, the agency’s economists and budget analysts produce dozens of reports and hundreds of cost estimates for proposed legislation.

CBO is strictly nonpartisan; conducts objective, impartial analysis; and hires its employees solely on the basis of professional competence, without regard to political affiliation. The agency does not make policy recommendations, and each report and cost estimate summarizes the methodology underlying the analysis.

CBO’s work follows processes specified in the Congressional Budget and Impoundment Control Act of 1974 (which established the agency) or developed by the agency in concert with the House and Senate Budget Committees and the Congressional leadership.

Friday, June 22, 2018

Overview of CBO’s Microsimulation Tax Model

CBO uses its microsimulation tax model to simulate the effects of tax rules for a representative sample of tax filers in each year of the budget window. The model informs much of CBO’s analysis of the individual income and payroll tax system.