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

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  • 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.

Suggested Citation

  • Congressional Budget Office, 2023. "The Economic and Budgetary Effects of Discretionary Funding Caps as Specified in the Limit, Save, Grow Act of 2023," Reports 59173, Congressional Budget Office.
    • Handle: RePEc:cbo:report:59173
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    File URL: https://www.cbo.gov/system/files/2023-07/59173-caps.pdf
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    More about this item

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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