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- Report
CBO provides an update to an earlier estimate of the effects of a potential sequestration under the caps established by the Fiscal Responsibility Act of 2023.
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In CBO’s projections, federal budget deficits total $20 trillion over the 2025–2034 period and federal debt held by the public reaches 116 percent of GDP. Economic growth slows to 1.5 percent in 2024 and then continues at a moderate pace.
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CBO reports annually on programs whose authorizations of appropriations have already expired or will expire. This data file covers legislation enacted through September 30, 2023. A full report will be issued later this year.
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CBO provides information concerning implementation of the caps on most discretionary funding for fiscal year 2024 as established by the Fiscal Responsibility Act of 2023.
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To assess the full costs of federal loans and loan guarantees, CBO has developed a method for estimating the present value of the lifetime administrative costs of certain federal credit programs.
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CBO estimates the costs of federal credit programs in 2024 in two ways—following procedures prescribed by the Federal Credit Reform Act and using a fair-value approach, which measures the market value of the government’s obligations.
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CBO has estimated what the economic and budgetary effects would be if the discretionary funding caps enacted in June 2023 had been those required under H.R. 2811, the Limit, Save, Grow Act of 2023.
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CBO’s updated projections show a federal budget deficit of $1.5 trillion for 2023. That estimate is subject to considerable uncertainty, though, in part because of a recent shortfall in tax revenues.
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CBO reports annually on programs whose authorizations of appropriations have already expired or will expire.
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The Congressional Budget Act of 1974 requires CBO to prepare estimates of the cost of legislation at certain points in the legislative process. This document provides answers to questions about how CBO prepares those cost estimates.