![]() ![]() Both CBO’s baseline and its analysis of the Administration’s budget are based on the agency’s most recent economic forecast. Both amounts would be lower than their values in any of the past 50 years.ĬBO’s baseline, which reflects the assumption that current laws governing federal spending and revenues will generally remain in place, is intended to provide a benchmark that policymakers can use to assess the potential effects of future policy decisions on federal spending and revenues and, thus, on deficits and debt. ![]() As a share of gross domestic product (GDP), discretionary outlays in 2033 would be 2.5 percent for defense and 2.8 percent for nondefense-the two subcategories of discretionary outlays. (Unless otherwise noted, amounts in this report do not include the effects of proposed changes in mandatory programs that would be enacted in appropriation bills.) Outlays stemming from funding designated as an emergency requirement would account for three-quarters of the total difference over the next decade. Under CBO’s baseline, such funding grows at 2.4 percent per year, on average.Īs a result of those differences in funding, outlays under the President’s budget would be lower than those in the baseline by $16 billion (or 1 percent) in 2024, CBO estimates, and by $1.5 trillion (or 7 percent) from 2024 to 2033. The Congressional Budget Office (CBO) just published its score of the recently unveiled bipartisan Infrastructure Investment and Jobs Act.
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