The Economic and Budgetary Effects of Discretionary Funding Caps as Specified in the Limit, Save, Grow Act of 2023

Congressional Budget Office

No 59173, Reports from Congressional Budget Office

Abstract: CBO has analyzed the economic and budgetary effects of imposing caps on discretionary budget authority, as specified in H.R. 2811, the Limit, Save, Grow Act of 2023, relative to CBO’s February 2023 baseline. CBO estimated that those caps would reduce the primary deficit by $3.2 trillion over the 2024–2033 period. The spending reductions resulting from the caps would initially reduce real gross domestic product (GDP), employment, interest rates, and inflation relative to the agency’s baseline projection.

JEL-codes: E62 H50 H60 (search for similar items in EconPapers)
Date: 2023-07-19
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Persistent link: https://EconPapers.repec.org/RePEc:cbo:report:59173

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