As ordered reported by the House Committee on Homeland Security on February 26, 2025
This workbook allows users to define and analyze alternative economic scenarios by specifying differences in the values of four economic variables relative to the values underlying CBO’s January 2025 projections.
To show how variations in economic conditions might affect its budget projections, CBO analyzed how revenues, outlays, and deficits might change if the values of key economic variables differed from those in the agency’s forecast.
Presentation by Jaeger Nelson, CBO’s Fiscal Studies Unit Chief, at the Hoover Institution’s Fiscal Policy Initiative: The Economic Consequences of U.S. Fiscal Policy Trends.
Eric J. Labs, Senior Analyst for Naval Forces and Weapons in CBO’s National Security Division, testifies before the House Armed Services Committee's Subcommittee on Seapower and Projection Forces.
As ordered reported by the House Committee on Transportation and Infrastructure on February 26, 2025
As ordered reported by the House Committee on Education and Workforce on February 12, 2025
As ordered reported by the House Committee on Natural Resources on February 12, 2025
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on February 5, 2025
CBO estimates that the effects on mandatory spending and revenues of laws enacted in the second session of the 118th Congress will increase outlays and decrease revenues from 2024 to 2034, which will increase the deficit by $237 billion.
Realized capital gains were historically high in 2021. CBO examined the significance of capital gains in different segments of the income distribution and how those gains have contributed to income inequality over time.
This interactive workbook allows users to see how revenues and outlays that differed from those in CBO's January 2025 baseline budget projections would increase or decrease net interest costs and thus affect deficits and debt.
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.
CBO provides information about projections of mandatory spending for the 2025–2034 period for programs, excluding Medicare, that are under the jurisdiction of the House Committee on Energy and Commerce.
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on February 5, 2025
GAO
GAO-25-107210
Published: Feb 13, 2025 . Publicly Released: Mar 14, 2025 .
The National Oceanic and Atmospheric Administration and the Air Force fly Hurricane Hunter aircraft into tropical cyclones and winter storms to collect data for weather forecasts. Demand for their work has grown since 2014 as tropical cyclone activity increased and as they were tapped to begin collecting data on Pacific storms that can cause West Coast floods. The Hurricane Hunters haven't always met rising demand...
GAO-25-107215
Published: Mar 14, 2025 . Publicly Released: Mar 14, 2025 .
The National Nuclear Security Administration relies on contractors for thousands of parts for the nuclear weapons stockpile. However, NNSA faces risks to its industrial base—the supply chain, facilities, transportation, and workforce that combine to maintain the stockpile. NNSA uses its Stockpile Stewardship and Management Plan to communicate required information about these risks to Congress. However, we found that this plan does not clearly communicate what...
GAO-25-107819
Published: Mar 13, 2025 . Publicly Released: Mar 13, 2025 .
We audit the General Fund, which finances daily and long-term government operations and is managed by Treasury's Fiscal Service. During our FY 2024 audit, we identified issues with Fiscal Service's internal control over financial reporting. For instance, we found that Fiscal Service didn't maintain documentation to support certain cash transactions. Additionally, the agency didn't fully document all of its IT controls in its security plans...
Published: Mar 13, 2025 . Publicly Released: Mar 13, 2025 .
At the Department of Veterans Affairs, clinician-scientists provide care to veterans and conduct research. These research efforts have led to important medical advancements, such as the first liver transplant. But high demand for patient care can make it hard to also do research. In this Q&A we looked at VA's research program and found: Protected research time helps recruit and retain top clinician-scientists VA centers...
GAO-25-106820
Published: Mar 13, 2025 . Publicly Released: Mar 13, 2025 .
The federal government aims to award at least 20% of contract dollars to small businesses. The National Nuclear Security Agency and 6 of its contractors reported awarding $16.8 billion to small businesses in FYs 2018-2022. We and others have noted contractor oversight problems and fraud risk at NNSA. We checked the accuracy of these reported awards. We estimate that $1.1 billion went to businesses that...
GAO-25-106679
Published: Mar 13, 2025 . Publicly Released: Mar 13, 2025 .
Treasury's Fiscal Service manages the General Fund, which finances daily and long-term government operations. In FY 2024, $33.9 trillion flowed into the General Fund and $33.6 trillion flowed out of it. Fiscal Service continued to make progress in addressing the issues found in our prior audits. However, we don't have enough information to give an opinion on the reliability of the FY 2024 Schedules—the financial...
National Nuclear Security Administration:
Explosives Program Is Mitigating Some Supply Chain Risks but Should Take Additional Actions to Enhance Resiliency
GAO-25-107016
Published: Mar 12, 2025 . Publicly Released: Mar 12, 2025 .
Nuclear weapons require high explosives to trigger nuclear detonation. The National Nuclear Security Administration needs new explosive components to maintain and modernize the U.S. stockpile. We reviewed the explosives supply chain. NNSA has sought new suppliers and taken other actions to ensure its supply. It plans over $1 billion in improvements to contractor-run explosives facilities. However, it has paused some related projects for other priorities...
Published: Mar 12, 2025 . Publicly Released: Mar 12, 2025 .
U.S. military superiority depends on its ability to project strength in all areas—including the air, sea, ground, and space domains. We testified that military readiness has degraded over the last 2 decades due to a variety of challenges. For instance, the military services have all had issues ensuring that they have enough personnel, aircraft, and ships that can perform their missions. At the same time...
GAO-25-106874
Published: Mar 12, 2025 . Publicly Released: Mar 12, 2025 .
The Department of Veterans Affairs uses an electronic health record system to manage care for patients. The VA started modernizing the system in 2020 but paused the rollout in 2023 due to user concerns. Deployments have not yet restarted. The VA made numerous system improvements during the pause, but more can be done. For example, it hasn't updated cost estimates to consider the pause and...
GAO-25-108085
Published: Mar 11, 2025 . Publicly Released: Mar 11, 2025 .
Federal Protective Service's contracted guards control access to government facilities and screen visitors for prohibited items. Our investigators covertly tested security at some federal buildings in 2024. Guards failed to detect prohibited items—like blades and batons—in about half of our 27 tests. These results were consistent with FPS's own covert tests. FPS has been developing a tracking system to ensure guards are qualified and posts...
GAO-25-107753
Published: Mar 11, 2025 . Publicly Released: Mar 11, 2025 .
Improper payments—those that shouldn't have been made or were made in the incorrect amount—have been a government-wide issue for more than 20 years. In FY 2024, 16 federal agencies reported a total estimate of about $162 billion in improper payments across 68 programs. Of these, approximately 84% were a result of overpayments. This Q&A shows that the agencies' estimates represent a small subset of federal...
GAO-25-106132
Published: Mar 3, 2025 . Publicly Released: Mar 11, 2025 .
The Department of Defense manages one of the largest property portfolios within the federal government. DOD has long struggled to optimize the use of its real property and manage it well. Maintaining, renovating, or tearing down old facilities can be very expensive. DOD collects some data to identify unneeded or underused spaces. But it doesn't have accurate data on facility utilization rates (e.g., the amount...
GAO-25-106908
Published: Mar 11, 2025 . Publicly Released: Mar 11, 2025 .
Federal agencies' efforts to acquire IT have often cost more than expected, taken longer, and produced systems that failed to perform. IT acquisitions and management has been on our High Risk List since 2015. We examined 16 IT acquisition programs critical to agency missions—including national security, public health, and more—and that are expected to cost at least $50 billion. Seven of the programs identified significant...
GAO-25-108172
Published: Mar 11, 2025 . Publicly Released: Mar 11, 2025 .
Reducing fraud and improper payments is critical to safeguarding federal funds. Improper payments are payments that shouldn't have been made or were made in an incorrect amount. For FY 2024, the federal government reported about $162 billion in improper payments. Since FY 2003, such payments have totaled nearly $2.8 trillion. We testified about steps agencies can take to better manage improper payments and fraud risks...
Published: Mar 11, 2025 . Publicly Released: Mar 11, 2025 .
The Department of Homeland Security plays key roles in responding to natural disasters, securing the border, preventing domestic extremist violence, and more. It has an annual budget of about $60 billion. Since it began operations in 2003, we've made thousands of recommendations on how it could improve. This testimony includes discussion of ways to: Address duplication, overlap, and fragmentation in DHS, which could save hundreds...
Published: Mar 11, 2025 . Publicly Released: Mar 11, 2025 .
Despite a near doubling of its shipbuilding budget over 2 decades, the Navy hasn't increased its number of ships. And its new ships have consistently been delayed and had higher costs and lower capabilities than promised. Recent investments—in the billions—in shipyard infrastructure and workforces have yet to yield desired improvements. We testified about the need for the Navy to comprehensively rethink its approach to shipbuilding...
10 Mar 2025
IRS
IR-2025-34, March 14, 2025 — The Internal Revenue Service announced today tax relief for individuals and businesses in parts of West Virginia affected by severe storms, straight-line winds, flooding, landslides and mudslides that began on Feb. 15, 2025.
IRS reminds retirees: April 1 final day to begin required withdrawals from IRAs and 401(k)s
IR-2025-33, March 13, 2025 — The Internal Revenue Service issued a reminder today that in most cases retirees who turned 73 in 2024 must begin receiving payments from Individual Retirement Arrangements (IRAs), 401(k)s and similar workplace retirement plans by Tuesday, April 1, 2025.
IR-2025-32, March 12, 2025 ― The Internal Revenue Service today encouraged taxpayers to file a tax return or pay taxes they owe using electronic options on IRS.gov by April 15.
IR-2025-31, March 11, 2025 ― The Internal Revenue Service announced today that over 1.1 million people across the nation have unclaimed refunds for tax year 2021 but face an April 15 deadline to submit their tax returns.
IR-2025-30, March 10, 2025 — The IRS encouraged taxpayers who have yet to prepare and file their tax returns to consider taking advantage of the many free options available – including Direct File, a free, fast and easy way to file directly with the IRS, now available in 25 states.
NYS