The Congressional Budget Office (CBO) is an independent agency within the legislative branch of the United States government. Its primary role is to provide Congress with nonpartisan analysis and information on the financial and economic impact of proposed legislation. Established in 1974, the CBO plays a crucial role in the budgetary process by providing lawmakers with objective analysis of the costs and consequences of policy decisions.

The CBO is responsible for producing budget projections, evaluating the economic impact of legislative proposals, and assessing the long-term fiscal outlook. It analyzes the potential effects of tax changes, healthcare reforms, and various other policies on the federal budget and economy. Its reports are highly regarded for their objective and nonpartisan nature, helping lawmakers understand the potential economic consequences of their decisions.

In conclusion, the Congressional Budget Office is an essential institution that aids Congress in its decision-making process by providing objective and reliable analysis of proposed legislation and its financial implications. Its independent status ensures that it operates without bias, serving as a valuable resource for lawmakers seeking to make informed choices about the federal budget and economy.