In a new insight, Director of Fiscal Policy Jordan Haring breaks down the Congressional Budget Office’s (CBO) recently released Options for Reducing the Deficit: 2025 to 2034 report, outlining 76 policy options and their 10-year impact on the federal budget.

Key points:

• The policy options outlined in the report would save anywhere from $6 billion on the low end to $3.4 trillion over the fiscal year 2025–2034 budget window.
• A majority of the policy options featured in CBO’s report are updated projections of the fiscal impact of long-standing policy solutions in important budgetary areas such as Social Security and Medicare.
• CBO’s report shows that there are many options for policymakers to consider as they look for ways to reduce federal spending and to offset the cost of tax cut extensions.

Read the analysis