Taxes
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Workbook for How Changes in Economic Conditions Might Affect the Federal Budget: 2024 to 2034
This workbook allows users to define and analyze alternative economic scenarios by specifying differences in the values of four economic variables relative to the values underlying CBO's February 2024 projections.
- Report
Legislation Enacted in the First Session of the 118th Congress That Affects Mandatory Spending or Revenues
CBO estimates that the effects on mandatory spending and revenues of laws enacted in 2023 will reduce the deficit by $10 billion from 2023 to 2033—the net result of a $12 billion decrease in outlays and a $2 billion decrease in revenues.
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Answers to Questions for the Record Following a Hearing on The Budget and Economic Outlook: 2024 to 2034
The House Committee on the Budget convened a hearing at which Phillip L. Swagel, CBO's Director, testified. This document provides CBO’s answers to questions submitted for the record.
- Report
The Long-Term Budget Outlook: 2024 to 2054
The federal budget deficit increases significantly in relation to gross domestic product over the next 30 years, in CBO’s projections, pushing federal debt held by the public far beyond any previously recorded level.
- Blog Post
CBO to Release Long-Term Budget Projections on March 20
CBO will publish "The Long-Term Budget Outlook: 2024 to 2054" on March 20 at 2 p.m. The report will provide projections of federal spending, revenues, deficits, and debt for the next 30 years.
- Blog Post
CBO Releases Infographics About the Federal Budget in Fiscal Year 2023
View CBO’s budget infographics to see how much the federal government spent and took in during fiscal year 2023, as well as broader trends in the budget over the past few decades.
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Discretionary Spending in Fiscal Year 2023: An Infographic
Discretionary outlays by the federal government totaled $1.7 trillion in 2023. Outlays for nondefense programs accounted for more than half of that total.
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Mandatory Spending in Fiscal Year 2023: An Infographic
Mandatory outlays by the federal government totaled $3.8 trillion in 2023; more than half was for Social Security and Medicare. The largest increases over the past 20 years have been for the major health care programs.
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Revenues in Fiscal Year 2023: An Infographic
Revenues received by the federal government in 2023 totaled $4.4 trillion, of which half was receipts from individual income taxes.
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The Federal Budget in Fiscal Year 2023: An Infographic
The federal deficit in 2023 was $1.7 trillion, equal to 6.3 percent of gross domestic product.