Peter R. Orszag, Joseph A. Pechman Senior Fellow and Deputy Director of The Brookings institution, has been nominated by incoming Senate Budget Committee Chairman Kent Conrad (D-ND) to head the Congressional Budget Office (CBO), which provides cost estimates for non-tax legislation and issues budget and economic forecasts and analyses.  If approved in January by House and Senate leaders, Orszag would serve a four-year term. He would replace Acting CBO Director Donald Marron. 

From Sen. Conrad’s press release:

Conrad is making his recommendation after consulting with incoming House Budget Committee Chairman John Spratt (D-SC), current Senate Budget Committee Chairman Judd Gregg (R-NH), and the incoming House Budget Committee Ranking Member Paul Ryan (R-WI). Dr. Orszag was among three finalists interviewed Monday by Conrad, Spratt, Ryan, and a representative from Gregg’s office.

Press coverage:

• Associated Press
• Tax Analysts
• Wall Street Journal
• Washington Post

Update:  Dan Shavairo (NYU) applauds the appointment.