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- Report
CBO presents its projections of the federal budget for the next 30 years if current laws governing taxes and spending generally did not change. Growth in revenues would be outpaced by growth in spending, leading to rising deficits and debt.
- Cost Estimate
As Posted on the Senate Budget Committee's website on March 4, 2021
- Cost Estimate
As Engrossed by the House of Representatives
- Report
This document provides additional information on the economic forecast that CBO initially released on February 1, 2021.
- Report
If current laws governing taxes and spending generally remain unchanged, CBO projects, in 2021, the federal budget deficit will total $2.3 trillion, federal debt will reach 102 percent of GDP, and real GDP will grow by 3.7 percent.
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If the Raise the Wage Act of 2021 was enacted in March 2021, the cumulative budget deficit over the 2021–2031 period would increase by $54 billion.
- Report
CBO projects that the economic expansion that began in mid-2020 will continue. Real GDP is projected to return to its prepandemic level in mid-2021. The number of people employed is projected to return to its prepandemic level in 2024.
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The federal budget deficit was $572 billion in the first quarter of fiscal year 2021, the CBO estimates—$215 billion more than the deficit recorded during the same period last year.
- Report
In this letter, CBO provides more information about its cost estimate for H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act.
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The federal budget deficit totaled $430 billion in October and November 2020, the first two months of fiscal year 2021, the Congressional Budget Office estimates.