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Congressional Budget Office (CBO)

A nonpartisan agency that provides Congress with independent analyses of budgetary and economic issues, including cost estimates for proposed legislation.

Major Legislation

Any bill or joint resolution projected to result in mandatory spending or federal revenue changes equal to or greater than 0.25 percent of the current projected Gross Domestic Product for that year.

Mandatory Spending

Government spending that is required by law, such as Social Security and Medicare, rather than being determined annually by Congress through appropriations.

Federal Revenue

Money collected by the U.S. government, primarily through taxes, tariffs, and fees.

Gross Domestic Product (GDP)

The total monetary value of all finished goods and services produced within a country's borders in a specific time period, used as a measure of economic health.

Enactment Date

The date a bill officially becomes law after being passed by Congress and signed by the President (or if Congress overrides a veto).