Fiscal Responsibility Act of 2023
Jun 10, 2023 9:30:00 AM
written by
The Retirement Group
The Fiscal Responsibility Act of 2023, signed into law on June 3, 2023, suspends the federal debt ceiling until January 2025. The legislation also includes a number of spending cuts. It is estimated to reduce federal budget deficits by about $1.5 trillion over the 2023-2033 period relative to the May 2023 baseline projections, according to the Congressional Budget Office.
Some significant provisions in the legislation are summarized below.
Some significant provisions in the legislation are summarized below.
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posted in Financial Planning, 2023, Legislation, Fiscal Responsibility Act