Legislation Enacted in the First Session of the 118th Congress That Affects Mandatory Spending or Revenues

This report by the Congressional Budget Office summarizes the agency’s estimates of the effects on mandatory spending or revenues of authorizing legislation that was enacted during the first session of the 118th Congress (which spanned the period from January 3, 2023, to January 3, 2024). The dollar amounts discussed in the report and shown in its two supplemental tables also reflect the estimated effects on revenues of provisions included in enacted appropriation legislation.

As estimated by CBO, the effects of those laws on mandatory spending and revenues will reduce the cumulative deficit by about $10 billion over the 2023–2033 period—the net result of a $12 billion decrease in outlays and a $2 billion decrease in revenues.