Recommended levels and amounts

The following budgetary levels are appropriate for each of fiscal years 2025 through 2034: (1) Federal revenues For purposes of the enforcement of this resolution: (A) The recommended levels of Federal revenues are as follows: Fiscal year 2025: $3,853,053,000,000. Fiscal year 2026: $4,005,633,000,000. Fiscal year 2027: $4,095,208,000,000. Fiscal year 2028: $4,221,709,000,000. Fiscal year 2029: $4,343,708,000,000. Fiscal year 2030: $4,536,585,000,000. Fiscal year 2031: $4,744,851,000,000. Fiscal year 2032: $4,939,252,000,000. Fiscal year 2033: $5,155,399,000,000. Fiscal year 2034: $5,375,311,000,000. (B) The amounts by which the aggregate levels of Federal revenues should be changed are as follows: Fiscal year 2025: −$5,916,000,000. Fiscal year 2026: −$211,035,000,000. Fiscal year 2027: −$421,185,000,000. Fiscal year 2028: −$415,138,000,000. Fiscal year 2029: −$416,123,000,000. Fiscal year 2030: −$422,056,000,000. Fiscal year 2031: −$435,419,000,000. Fiscal year 2032: −$449,460,000,000. Fiscal year 2033: −$467,244,000,000. Fiscal year 2034: −$484,719,000,000. (2) Federal revenue changes relative to current policy The amounts by which the aggregate levels of Federal revenues should be changed compared to current policy are as follows: Fiscal year 2025: $0. Fiscal year 2026: $0. Fiscal year 2027: $0. Fiscal year 2028: $0. Fiscal year 2029: $0. Fiscal year 2030: $0. Fiscal year 2031: $0. Fiscal year 2032: $0. Fiscal year 2033: $0. Fiscal year 2034: $0. (3) New budget authority For purposes of the enforcement of this resolution, the appropriate levels of total new budget authority are as follows: Fiscal year 2025: $4,660,822,000,000. Fiscal year 2026: $4,787,172,000,000. Fiscal year 2027: $4,918,969,000,000. Fiscal year 2028: $5,195,931,000,000. Fiscal year 2029: $5,348,812,000,000. Fiscal year 2030: $5,634,695,000,000. Fiscal year 2031: $5,877,961,000,000. Fiscal year 2032: $6,148,105,000,000. Fiscal year 2033: $6,480,776,000,000. Fiscal year 2034: $6,681,550,000,000. (4) Budget outlays For purposes of the enforcement of this resolution, the appropriate levels of total budget outlays are as follows: Fiscal year 2025: $4,636,002,000,000. Fiscal year 2026: $4,803,228,000,000. Fiscal year 2027: $4,995,184,000,000. Fiscal year 2028: $5,283,709,000,000. Fiscal year 2029: $5,338,399,000,000. Fiscal year 2030: $5,621,606,000,000. Fiscal year 2031: $5,845,033,000,000. Fiscal year 2032: $6,078,132,000,000. Fiscal year 2033: $6,437,602,000,000. Fiscal year 2034: $6,592,030,000,000. (5) Deficits For purposes of the enforcement of this resolution, the amounts of the deficits are as follows: Fiscal year 2025: $782,949,000,000. Fiscal year 2026: $797,595,000,000. Fiscal year 2027: $899,976,000,000. Fiscal year 2028: $1,062,000,000,000. Fiscal year 2029: $994,691,000,000. Fiscal year 2030: $1,085,021,000,000. Fiscal year 2031: $1,100,182,000,000. Fiscal year 2032: $1,138,880,000,000. Fiscal year 2033: $1,282,203,000,000. Fiscal year 2034: $1,216,719,000,000. (6) Public debt Pursuant to section 301(a)(5) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)(5)), the appropriate levels of the public debt are as follows: Fiscal year 2025: $36,371,784,000,000. Fiscal year 2026: $37,521,488,000,000. Fiscal year 2027: $38,649,388,000,000. Fiscal year 2028: $39,897,925,000,000. Fiscal year 2029: $41,251,544,000,000. Fiscal year 2030: $42,552,065,000,000. Fiscal year 2031: $43,855,127,000,000. Fiscal year 2032: $45,199,622,000,000. Fiscal year 2033: $46,803,080,000,000. Fiscal year 2034: $48,714,403,000,000. (7) Debt held by the public The appropriate levels of debt held by the public are as follows: Fiscal year 2025: $29,141,533,000,000. Fiscal year 2026: $30,151,121,000,000. Fiscal year 2027: $31,291,493,000,000. Fiscal year 2028: $32,629,565,000,000. Fiscal year 2029: $33,930,044,000,000. Fiscal year 2030: $35,349,716,000,000. Fiscal year 2031: $36,814,512,000,000. Fiscal year 2032: $38,364,377,000,000. Fiscal year 2033: $40,073,109,000,000. Fiscal year 2034: $41,747,907,000,000.

The following budgetary levels are appropriate for each of fiscal years 2025 through 2034: (1) Federal revenues For purposes of the enforcement of this resolution: (A) The recommended levels of Federal revenues are as follows: Fiscal year 2025: $3,853,053,000,000. Fiscal year 2026: $4,005,633,000,000. Fiscal year 2027: $4,095,208,000,000. Fiscal year 2028: $4,221,709,000,000. Fiscal year 2029: $4,343,708,000,000. Fiscal year 2030: $4,536,585,000,000. Fiscal year 2031: $4,744,851,000,000. Fiscal year 2032: $4,939,252,000,000. Fiscal year 2033: $5,155,399,000,000. Fiscal year 2034: $5,375,311,000,000. (B) The amounts by which the aggregate levels of Federal revenues should be changed are as follows: Fiscal year 2025: −$5,916,000,000. Fiscal year 2026: −$211,035,000,000. Fiscal year 2027: −$421,185,000,000. Fiscal year 2028: −$415,138,000,000. Fiscal year 2029: −$416,123,000,000. Fiscal year 2030: −$422,056,000,000. Fiscal year 2031: −$435,419,000,000. Fiscal year 2032: −$449,460,000,000. Fiscal year 2033: −$467,244,000,000. Fiscal year 2034: −$484,719,000,000. (2) Federal revenue changes relative to current policy The amounts by which the aggregate levels of Federal revenues should be changed compared to current policy are as follows: Fiscal year 2025: $0. Fiscal year 2026: $0. Fiscal year 2027: $0. Fiscal year 2028: $0. Fiscal year 2029: $0. Fiscal year 2030: $0. Fiscal year 2031: $0. Fiscal year 2032: $0. Fiscal year 2033: $0. Fiscal year 2034: $0. (3) New budget authority For purposes of the enforcement of this resolution, the appropriate levels of total new budget authority are as follows: Fiscal year 2025: $4,660,822,000,000. Fiscal year 2026: $4,787,172,000,000. Fiscal year 2027: $4,918,969,000,000. Fiscal year 2028: $5,195,931,000,000. Fiscal year 2029: $5,348,812,000,000. Fiscal year 2030: $5,634,695,000,000. Fiscal year 2031: $5,877,961,000,000. Fiscal year 2032: $6,148,105,000,000. Fiscal year 2033: $6,480,776,000,000. Fiscal year 2034: $6,681,550,000,000. (4) Budget outlays For purposes of the enforcement of this resolution, the appropriate levels of total budget outlays are as follows: Fiscal year 2025: $4,636,002,000,000. Fiscal year 2026: $4,803,228,000,000. Fiscal year 2027: $4,995,184,000,000. Fiscal year 2028: $5,283,709,000,000. Fiscal year 2029: $5,338,399,000,000. Fiscal year 2030: $5,621,606,000,000. Fiscal year 2031: $5,845,033,000,000. Fiscal year 2032: $6,078,132,000,000. Fiscal year 2033: $6,437,602,000,000. Fiscal year 2034: $6,592,030,000,000. (5) Deficits For purposes of the enforcement of this resolution, the amounts of the deficits are as follows: Fiscal year 2025: $782,949,000,000. Fiscal year 2026: $797,595,000,000. Fiscal year 2027: $899,976,000,000. Fiscal year 2028: $1,062,000,000,000. Fiscal year 2029: $994,691,000,000. Fiscal year 2030: $1,085,021,000,000. Fiscal year 2031: $1,100,182,000,000. Fiscal year 2032: $1,138,880,000,000. Fiscal year 2033: $1,282,203,000,000. Fiscal year 2034: $1,216,719,000,000. (6) Public debt Pursuant to section 301(a)(5) of the Congressional Budget Act of 1974 (2 U.S.C. 632(a)(5)), the appropriate levels of the public debt are as follows: Fiscal year 2025: $36,371,784,000,000. Fiscal year 2026: $37,521,488,000,000. Fiscal year 2027: $38,649,388,000,000. Fiscal year 2028: $39,897,925,000,000. Fiscal year 2029: $41,251,544,000,000. Fiscal year 2030: $42,552,065,000,000. Fiscal year 2031: $43,855,127,000,000. Fiscal year 2032: $45,199,622,000,000. Fiscal year 2033: $46,803,080,000,000. Fiscal year 2034: $48,714,403,000,000. (7) Debt held by the public The appropriate levels of debt held by the public are as follows: Fiscal year 2025: $29,141,533,000,000. Fiscal year 2026: $30,151,121,000,000. Fiscal year 2027: $31,291,493,000,000. Fiscal year 2028: $32,629,565,000,000. Fiscal year 2029: $33,930,044,000,000. Fiscal year 2030: $35,349,716,000,000. Fiscal year 2031: $36,814,512,000,000. Fiscal year 2032: $38,364,377,000,000. Fiscal year 2033: $40,073,109,000,000. Fiscal year 2034: $41,747,907,000,000.