The Congressional Budget Office was created by Title II of the Congressional Budget and Impoundment Control Act (P.L. 93-344), which was signed into law by President Richard Nixon on July 12, 1974.
In April 2013, the Congressional Budget Office said the AMPV would be a better buy because analysts have asserted that the vehicles the GCV is slated to replace should not be first.
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On 2 April 2013, the Congressional Budget Office (CBO) issued a report on the progress of the GCV program.
The Congressional Budget Office (CBO) projected in January 2012 that the fund's Highway Account will become insolvent during 2013, and the Mass Transit Account insolvent in 2014.
This summary is based largely on the summaries provided by the Congressional Research Service and Congressional Budget Office, both public domain sources.
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Republican opponents of the plan called it "a financial gimmick" to manipulate the Congressional Budget Office deficit projections for the PPACA, while Democratic Senator Kent Conrad called it a "Ponzi scheme," because
He is a former professor, former Director of the Congressional Budget Office, and former chief economic policy adviser to U.S. Senator John McCain's 2008 presidential campaign.
The Congressional Budget Office director Peter R. Orszag announced on September 9, 2008 that the CBO intended to incorporate the assets and liabilities of the two companies into their federal budget planning, due to the degree of government control over the entities.
Based on information from the Forest Service, the Congressional Budget Office estimates that implementing the legislation would have no significant impact on the federal budget.