Congressional Budget Office Submits Views and Estimates for Fiscal Year 2023
On August 22, 2025, at 07:46 AM EDT, the Congressional Budget Office (CBO) officially released its “Views and Estimates with Respect to the Concurrent Resolution on the Budget for Fiscal Year 2023” (S.Prt. 117-22) through GovInfo.gov. This comprehensive report provides crucial analysis and recommendations from the CBO to the Senate Committee on the Budget, as mandated by Section 301(d) of the Congressional Budget Act of 1974.
The “Views and Estimates” report serves as a foundational document for the development of the annual budget resolution. It outlines the CBO’s projections for federal revenues, spending, and the deficit for the upcoming fiscal year, along with its assessment of the economic outlook. Crucially, the report also presents the CBO’s recommendations for policy changes that could impact the budget.
This year’s submission is particularly significant as it arrives during a period of ongoing economic recovery and as Congress grapples with the long-term implications of national debt and fiscal sustainability. The report is expected to inform discussions and decisions regarding spending priorities, revenue generation, and strategies to manage the nation’s finances.
Key areas likely covered in the “Views and Estimates” report include:
- Economic Outlook: Projections for key economic indicators such as GDP growth, inflation, and unemployment.
- Budgetary Outlook: Detailed forecasts for federal revenues and outlays across various government functions, along with projected deficits or surpluses.
- Mandatory and Discretionary Spending: An analysis of spending trends in both entitlement programs (mandatory spending) and appropriations-based programs (discretionary spending).
- Policy Options: Recommendations for potential legislative actions that could alter spending or revenue levels, including their projected budgetary impacts.
The release of S.Prt. 117-22 by the CBO is a vital step in the congressional budget process. It equips lawmakers with independent, non-partisan analysis, enabling them to make informed decisions that will shape the nation’s fiscal path for the coming year and beyond. Stakeholders, policymakers, and the public are encouraged to review the full report available on GovInfo.gov to gain a deeper understanding of the fiscal landscape and the challenges and opportunities that lie ahead.
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govinfo.gov CongressionalCommittee Prints published ‘S.Prt. 117-22 – VIEWS AND ESTIM ATES WITH RESPECT TO THE CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2023 AS SUBMITTED TO THE COMMITTEE ON THE BUDGET PURSUANT TO SECTION 301(D) OF THE CONGRESSIONAL BUDGET ACT OF 1974’ at 2025-08-22 07:46. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.