Congressional Budget Office (CBO)

Jar for prescription drugs stuffed with hundred dollar bill representing high cost health care

Biden administration chooses first 10 drugs for Medicare price negotiations

BY: - August 29, 2023

WASHINGTON — Medicare can now negotiate lower prices for 10 common high-price drugs, cutting out-of-pocket costs for an estimated 9 million seniors and saving taxpayers billions, the Biden administration said Tuesday. Medicare will begin this year to negotiate with the manufacturers of popular medications used to treat blood clots, diabetes, heart disease, rheumatoid arthritis, chronic […]

The U.S. Capitol, with a rotunda and wings for the U.S. House and the U.S. Senate, silhouetted against a clear blue sky.

U.S. risks debt default in early June, congressional budget office agrees

BY: - May 12, 2023

WASHINGTON — The federal government could default on its debt during the first two weeks of June without action on bipartisan legislation, according to the Congressional Budget Office.  The nonpartisan budget scorekeeper issued an updated report Friday, warning that “if the debt limit remains unchanged, there is a significant risk that at some point in […]

The U.S. Capitol at night. The Capitol rotunda is lit up against the night sky.

Bipartisan group predicts U.S. debt default as soon as summer, depending on tax receipts

BY: - February 22, 2023

WASHINGTON — A bipartisan think tank expects that the United States will default on its debt in the summer or early fall, if Congress doesn’t take action to address the debt limit before then.  The timeline is similar to one the nonpartisan Congressional Budget Office released last week, saying lawmakers have until sometime between July […]

A sign with white letters on a red background saying "We accept Food Stamps; EBT Card"

U.S. Senate panel spars over elevated food assistance spending in upcoming farm bill

BY: - February 17, 2023

WASHINGTON – Members of the U.S. Senate Agriculture, Nutrition and Forestry Committee split along party lines on Thursday as they tussled over financial accountability in farm bill nutrition programs.  The main point of contention was the Department of Agriculture’s 2021 changes to the Thrifty Food Plan, one of four food plans the USDA develops to […]