ADVERTISEMENT Swagel served as assistant secretary for economic policy at the Treasury Department from late 2006 until early 2009, a period that included the start of the financial crisis. He has also served on the White House Council of Economic Advisers and an economist for the Federal Reserve Board.

The decision, first reported by Roll Call and confirmed by The Hill on Wednesday, would have Swagel replace current CBO director Keith Hall, who has been in the position since April 2015. Roll Call reported that an announcement is expected next week.

The CBO is a key office within the legislative branch that advises Congress on the projected costs of legislation, and its analyses and projections often able to make or break bills.

Republicans have slammed the agency for its projections that their health care proposals would dramatically reduce the number of people with health insurance, as well as later estimates that found their signature tax law would all $1.9 trillion to the deficit over a decade.