Tag Archives: congressional budget office

The federal budget deficit for the 2020 fiscal year ended on Sept. 30th reached $3.1 trillion, more than three times higher than the prior-year period’s shortfall, according to a new Congressional Budget Office (CBO) report. According to CBO, receipts from payroll taxes, the second largest source of revenues, saw a five percent increase. 

A new Congressional Budget Office (CBO) report says that the cost of the U.S. Navy’s future fleet of 10 FFG(X) frigates could total $12.3 billion or $1.2 billion per ship in 2020. That amount represents a 40 percent increase from the service branch’s estimate of $8.7 billion or $870 million per ship.

A new Congressional Budget Office (CBO) report says the Department of Defense (DoD) could incur $410 billion to $439 billion in onetime costs if the U.S. government decides to expand its strategic nuclear forces to the START I treaty levels in response to the expiration of the new Strategic Arms Reduction Treaty with Russia.

A Congressional Budget Office (CBO) report has found that increasing the Internal Revenue Service’s (IRS) funding by $40 billion over the next decade could lead to a $63 billion decrease in deficit, Government Executive reported Thursday.

A new Congressional Budget Office report says the creation of a Space National Guard with approximately 1,500 personnel to support the U.S. Space Force would result in approximately $100 million in additional operations and support costs per year.

The Congressional Budget Office (CBO) said the U.S. is likely to see through fiscal year 2030 a reduction of approximately $7.9 trillion in nominal gross domestic product adjusted for inflation due to the coronavirus pandemic, CNBC reported Monday.

The Congressional Budget Office predicts that the Department of the Navy would spend around $380 billion for new aircraft over the next 30 years.

The Congressional Budget Office said the Department of Homeland Security's potential bug bounty program would require $44M to implement, Fedscoop reported Monday. A proposed bill, known as the Cybersecurity Vulnerability Remediation Act, would task DHS to gather bug information via a bounty program.

The Congressional Budget Office released a report stating that the Department of Defense’s projected $718B spending from 2020 to 2024 would increase to $776B or 13 percent by 2034. CBO assessed DoD’s Future Years Defense Program which includes the department’s projected costs for programs within a five-year period.

The Congressional Budget Office estimates that the federal government may spend up to $3 billion in taxpayer money and add $1.3 billion to the Pentagon’s annual budget to establish and run President Trump’s proposed Space Force. The figure comes from CBO’s newly-released analysis of the personnel requirements and costs of proposed military space organizations. Defense officials have said the Space Force would cost nearly $2 billion over the next five years and require $500 million annually to operate.