CBO

Ather Energy is open to provide free help to players in the electric vehicle space to adopt its charging connector, which has been recognised as standard by the Bureau of Indian Standards, to accelerate adoption of electric mobility, the company's Chief Business Officer Ravneet S Phokela said. The electric two-wheeler maker is also working to increase its own charging network to 2,500 by March 2024 from the current 1,600 even as it is in talks with other manufacturers for adoption of its charging connector. "We have an IP…

WASHINGTON—House Republicans’ debt-ceiling bill would cut government deficits by $4.8 trillion over 10 years, according to Congress’s nonpartisan scorekeeper, as party leaders moved to gather enough support for a vote this week. The bill is designed to unify Republicans around a position as they prepare for expected talks with the White House and congressional Democrats over spending cuts, ahead of a projected summer deadline to raise the country’s borrowing limit. Unless Congress raises the ceiling,…

The federal deficit declined to $1.4 trillion in the just-ended fiscal year, as tax revenues increased and pandemic-related spending fell sharply, according to estimates from the nonpartisan Congressional Budget Office. The CBO’s preliminary deficit figures for the 2022 fiscal year, which ended Sept. 30, show the federal budget shortfall fell by half from nearly $2.8 trillion the prior year, a roughly $1.4 trillion decline. The CBO said the drop came as government revenues…

President Biden’s plan to cancel student debt for some borrowers will cost the federal government an additional $400 billion, according to the nonpartisan Congressional Budget Office.The estimates released Monday are the latest to put a price tag on the administration’s student-loan modification plans, in the absence of a detailed accounting from the White House. A range of analyst estimates reflects the considerable complexity of projecting the performance of the federal government’s student-loan portfolio, and raises…

President Biden delivered remarks in the Rose Garden of the White House during his first in-person appearance since contracting Covid-19. Photo: michael reynolds/Shutterstock…

WASHINGTON—U.S. inflation and economic growth are forecast to cool later this year and in 2023, the Congressional Budget Office said Wednesday, reflecting an economy in a moment of transition.The nonpartisan agency’s budget and economic projections came as the Federal Reserve has begun raising interest rates in an effort to combat inflation, actions that some economists and market observers believe are likely to bring an economic slowdown—and possibly a recession—in the U.S. The CBO forecasts are also likely to be…