A Look Back at the Congressional Budget Office's History and Impact on American Rescue Plan Act Funding

The American Rescue Plan Act (ARPA) has been a game-changer for many communities across the United States, providing much-needed funding for various projects and initiatives. One of the key players in ensuring that this funding is utilized effectively is the Congressional Budget Office (CBO). In this article, we will explore the history of the CBO and its role in shaping the ARPA's impact on American communities.

History of the Congressional Budget Office

The CBO was established in 1974 as an independent agency within the legislative branch of the federal government. Its primary responsibility is to provide Congress with objective analysis and budget estimates for proposed legislation, including the ARPA. The CBO's role is crucial in ensuring that lawmakers have accurate information about the potential costs and benefits of various policies.

Impact on ARPA Funding

The ARPA was signed into law by President Joe Biden in March 2021, providing $2.9 billion in federal funds to Missouri for various projects and initiatives. The funding includes earmarked appropriations for specific projects, such as Golden Valley's cancer clinic and Cape Girardeau's vocational expansion, as well as competitive grants for water infrastructure improvement, broadband network development, tourism support, and industrial site preparation.

However, the CBO has played a critical role in ensuring that this funding is utilized effectively. According to Benyon, the public schools superintendent of Cape Girardeau Public Schools, the massive federal fund has been challenging to maximize due to the need to obligate dollars before they can be pulled down. Many appropriations require matching funds from the recipient, often as much as $1 for every dollar coming from the state.

Challenges and Opportunities

Despite these challenges, many communities have been able to utilize the ARPA funding effectively. For example, Golden Valley Memorial Healthcare in Clinton received $1 million from the state last year to expand its cancer treatment options, which it was able to match with grant funding. The hospital's new radiation therapy facility has already opened, providing patients with access to life-saving treatments without having to travel long distances.

In conclusion, the CBO plays a vital role in shaping the impact of ARPA funding on American communities. Its history and expertise provide lawmakers with accurate information about the potential costs and benefits of various policies, ensuring that funding is utilized effectively. While there are challenges associated with maximizing these funds, many communities have been able to utilize them successfully, providing much-needed resources for vital projects and initiatives. As we look back at the CBO's history and impact on ARPA funding, it is clear that its role will continue to be essential in shaping the future of American Rescue Plan Act funding.

Congressional budget office history