Taxes
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Discretionary Spending in Fiscal Year 2022: An Infographic
Discretionary outlays by the federal government totaled $1.7 trillion in 2022. Nondefense outlays were higher than those for defense activities partly because of spending for programs enacted in response to the coronavirus pandemic.
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Mandatory Spending in Fiscal Year 2022: An Infographic
Mandatory outlays by the federal government totaled $4.1 trillion in 2022; nearly half was for Social Security and Medicare. The largest increases over the past 20 years have been for the major health care programs and student loans.
- Blog Post
Presentations
CBO Director Phillip Swagel discusses his recent and upcoming presentations on CBO’s latest budget and economic projections.
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Revenues in Fiscal Year 2022: An Infographic
Revenues received by the federal government in 2022 totaled $4.9 trillion, of which more than half was receipts from individual income taxes, which were the highest ever as a percentage of gross domestic product.
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The Federal Budget in Fiscal Year 2022: An Infographic
The federal deficit in 2022 was $1.4 trillion, equal to 5.5 percent of gross domestic product, almost 2 percentage points greater than the average over the past 50 years.
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Workbook for How Changes in Economic Conditions Might Affect the Federal Budget: 2023 to 2033
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 2023 projections.
- Presentation
The Economy and the Budget
Presentation by Phillip Swagel, CBO’s Director, to the Prosperity Caucus.
- Report
Legislation Enacted in the Second Session of the 117th Congress That Affects Mandatory Spending or Revenues
CBO estimates that the effects on mandatory spending and revenues of laws enacted in 2022 will add about $810 billion to deficits from 2022 to 2032—the net result of a $900 billion increase in outlays and a $90 billion increase in revenues.
- Presentation
The Budget, the Economy, and the Budgetary Effects of Legislative Changes
A briefing by Phillip Swagel, CBO’s Director, for the U.S. House of Representatives.
- Cost Estimate
H.J. Res. 30, Providing for Congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights"
As posted on the Website of the House Committee on Rules on
February 23, 2023