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Congressional Budget Office (CBO)

A non-partisan agency that provides economic analysis and cost estimates for proposed legislation to the U.S. Congress.

Cost Analysis and Scoring

The process of estimating the financial impact, or cost, of a proposed bill or law on the federal budget and the economy.

Fiscal Model

A computer program or mathematical framework used to simulate and predict the economic effects, such as spending or revenue changes, of government policies.

Policy Model

A type of model used to analyze the economic or social impacts of specific government policies or programs.

Data Preparation Routine

The set of procedures or steps used to clean, organize, and transform raw data so it can be used effectively in models and for analysis.

Replication

The ability for an independent individual or group to re-perform a calculation or analysis using the same original inputs and methods and achieve the same or very similar results.