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Bookmark or Share- The AAF Plan to Address the Nation’s Debt ChallengeToday, it comprises 61 percent of the budget and will grow to 62 percent by FY 2034. The last two major deficit-reduction packages – the Budget Control Act of 2011 and the Fiscal Responsibility Act of 2023 – focused almost entirely on discretionary spending, which comprises only 26 percent of the budget.
- Highlights of CBO’s Update to the Budget and Economic Outlook ... - AAFAccording to new projections from the Congressional Budget Office (CBO), the national debt will eclipse the highest levels in U.S. history by the end of fiscal year 2028. Since CBO’s last budget baseline update in May of 2023, the net effect of spending caps enacted under the Fiscal Responsibility Act, as well as other economic and technical ...
- Jordan's Judgment: October Jobs - AAFOn September 30, 2025, the Fiscal Responsibility Act-enacted caps on defense and nondefense discretionary spending will expire, meaning there will be no statutory limit on annual appropriations. The decision over whether to extend the caps or engage in what could end up being a spending free for all will have budgetary implications over the ...
- Highlights of the Fiscal Responsibility Act - AAFThat negotiation culminated in the Fiscal Responsibility Act of 2023, which provides for an increase in the federal debt limit and suspends the federal debt limit until January of 2025. In addition, the Act includes a number of policy changes, including reforms to certain benefit programs, a mechanism for constraining administrative actions ...
- Permitting Reforms in the Fiscal Responsibility Act of 2023EXECUTIVE SUMMARY While the core aspects of the Fiscal Responsibility Act of 2023 are to extend the debt limit and adjust certain fiscal policies, the legislation’s provisions on permitting reforms are likely its most notable non-fiscal policy items. Given the constraints of the cross-partisan negotiation, the permitting policies included were far more restrained than previously […]
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