Washington, D.C. – House Budget Committee Chairman Steve Womack released the following statement after the Committee concluded its five-part oversight hearing series on the Congressional Budget Office (CBO). Today’s closing hearing, CBO Oversight: Perspectives from Outside Experts, featured two panels with former CBO directors, Dr. Alice Rivlin and Dr. Doug Holtz-Eakin, and outside budget policy and process experts, Maya MacGuineas of the Committee for a Responsible Federal Budget and Sandy Davis of the Bipartisan Policy Center.
“Since its inception more than 40 years ago, CBO has not undergone a comprehensive review. This series of hearings finally fulfilled this committee’s duty for proper oversight and broadened our understanding of CBO’s work and challenges,” said Chairman Steve Womack. “My thanks to today’s witnesses and all those who participated in this productive, bipartisan dialogue along the way. Their insight will be valuable as we think through actionable solutions to ensuring the agency is equipped with the tools necessary to effectively and efficiently support the congressional budget process.”
Established by the Congressional Budget and Impoundment Act of 1974, CBO is a nonpartisan support agency that directly assists the House and Senate Budget Committees in Congress. Completion of this hearing series marks the first time the agency has undergone a comprehensive review.
Hearings in the series include:
- CBO Oversight: Organizational and Operational Structure
- CBO Oversight: Economic Assumptions, Baseline Construction, Cost Estimating, and Scoring
- CBO Oversight: The Role of Behavioral Modeling in Scoring and Baseline Construction
- CBO Oversight: Member Day
- CBO Oversight: Perspectives from Outside Experts