The Budget and Economic Outlook: 2018 to 2028

On April 19, 2018, The Congressional Budget Office (CBO) released The Budget and Economic Outlook: 2018 to 2028, the latest installment of an annual report explaining the agency’s budget and economic projections. 

Notes from CBO regarding the document:

This report is usually published in January. This year, it was published in April to give the Congressional Budget Office time to analyze and incorporate some of the effects of recent major legislation, particularly Public Law 115-97 (originally called the Tax Cuts and Jobs Act and called the 2017 tax act in this report), which was enacted on December 22, 2017; the Bipartisan Budget Act of 2018 (P.L. 115-123), which was enacted on February 9, 2018; and the Consolidated Appropriations Act, 2018 (P.L. 115-141), which was enacted on March 23, 2018. Unless the report notes otherwise, the projections in it do not reflect economic developments, administrative actions, or regulatory changes that occurred after mid-February 2018.

The report includes preliminary updates to projections of subsidies for employment-based health insurance and for insurance purchased through the marketplaces established under the Affordable Care Act. CBO and the staff of the Joint Committee on Taxation expect to complete final estimates later this spring when CBO will publish a report about subsidies for health insurance coverage for people under age 65.