Biden Budget Reduces Amounts for Emergency Requirements: CBO

Congressional Budget Office (CBO) Director Phillip Swagel testifies before the Legislative Branch Subcommittee of the House Appropriations Committee in Washington on Feb. 12, 2020. Sarah Silbiger/Getty Images

President Joe Biden’s proposed discretionary budget for 2024 is well below baseline projections for both funding and spending that were estimated by the Congressional Budget Office (CBO).

The president’s proposed funding is 4 percent below CBO projections for the year and 12 percent for the coming decade, according to a May 18 report.