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1 1 (June 1, 2023)

handle is hein.crs/govelva0001 and id is 1 raw text is: Congressional ____ ~ ~Research Service Discretionary Spending Caps in the Fiscal Responsibility Act of 2023 June 1, 2023 The Fiscal Responsibility Act of 2023 (FRA; H.R. 3746), as passed by the House on May 31, 2023, includes provisions that would establish enforceable discretionary spending limits (caps) for FY2024 and FY2025. This Insight provides information on those limits, as well as exemptions to the limits, and discretionary spending levels in future years. Discretionary Caps for FY2024 and FY2025 Table 1 shows the discretionary caps imposed by the FRA for FY2024 and FY2025. If discretionary appropriations are enacted that exceed these statutory limits for the fiscal year, a sequester would be triggered making across-the-board reductions of nonexempt spending within the applicable category (defense and/or nondefense) to eliminate the excess spending. Such a sequester order would be issued by the President within 15 calendar days after the end of a session of Congress. Table I. FRA Discretionary Limits on Budget Authority, FY2024-FY2025 (in billions of nominal dollars) Fiscal Year Defense Discretionary Nondefense Discretionary FY2024 $886.35 $703.65 FY2025 $895.21 $710.69 Source: FRA as passed by the House on May 31, 2023. As with previous discretionary spending limits, the FRA would designate certain spending as effectively exempt from these limits. Spending designated as an emergency requirement would be exempt up to any amount, while funding for certain purposes-such as program integrity initiatives, disaster funding, and reemployment services-would be exempt up to specified amounts. The Congressional Budget Office (CBO) estimated that the discretionary caps for FY2024 and FY2025 would reduce budget authority by a combined $246 billion relative to baseline projections. Reductions in nondefense budget authority account for nearly all of that total reduction (a combined $236 billion, or 96% of the total change), with defense budget authority reduced by the remaining 4% ($9 billion). Budget Congressional Research Service https://crsreports.congress.gov IN12168 CRS INSIGHT Prepared for Members and Committees of Congress

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