House Budget Committee to Hold CBO Oversight Hearings

Washington, D.C. – House Budget Committee Chairman Steve Womack today announced the Committee’s plans to conduct a series of five hearings related to the Congressional Budget Office (CBO). Established by the Congressional Budget Act of 1974 and overseen by the House and Senate Budget Committees, CBO currently operates under its original permanent authorization.

“More than 40 years since it was created to support the budget-making process, the Congressional Budget Office has yet to undergo a comprehensive review,” said Chairman Steve Womack. “To ensure this nonpartisan support agency can effectively and efficiently carry out the mission of its founding, the House Budget Committee will take a closer look at CBO’s structure, processes, assumptions and transparency. I look forward to the productive discussions ahead.”

The first hearing in the series, CBO Oversight: Organizational and Operational Structure, will explore CBO’s statutory history, general duties and responsibilities. It is scheduled to take place on Tuesday, January 30, at 10:00 am.

Hearings in the series will 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