GAO Glossary of Terms and Definitions (September 2005)

Current Level Estimate

An estimate of the amounts of new budget authority, outlays, and revenues for a full fiscal year, based upon enacted law. Current level estimates used by Congress do not take into account the potential effects of pending legislation. Current level estimates include a tabulation comparing estimates with the aggregates approved in the most recent budget resolution, and they are consistent with the technical and economic assumptions in that resolution. This means that the current level is not only compared to the resolution, but the current level estimate’s framework is consistent with the resolution. Section 308(b) of the Congressional Budget and Impoundment Control Act of 1974, as amended (2 U.S.C. § 639(b)), requires the House and Senate Budget Committees to make this tabulation at least once a month. The Congressional Budget Office (CBO) assists these committees by regularly submitting reports of the budgetary impact of congressional actions. (See also Budget Authority; Committee Allocation; Congressional Budget Act; Scorekeeping.)

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Current Dollar (Economics Term)


Current Rate