Sec. 701. Long-term budgeting
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/bill/114/hconres/27/pcs/section-701·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The following are the recommended revenue, spending, and deficit levels for each of fiscal years 2030, 2035, and 2040 as a percent of the gross domestic product of the United States: The budgetary levels of Federal revenues are as follows: Fiscal year 2030: 18.7 percent. Fiscal year 2035: 19.0 percent. Fiscal year 2040: 19.0 percent. The budgetary levels of total budget outlays are not to exceed: Fiscal year 2030: 18.4 percent. Fiscal year 2035: 17.8 percent. Fiscal year 2040: 16.9 percent.
The budgetary levels of deficits are not to exceed: Fiscal year 2030: -0.3 percent. Fiscal year 2035: -1.2 percent. Fiscal year 2040: -2.1 percent. The budgetary levels of debt held by the public are not to exceed: Fiscal year 2030: 44.0 percent. Fiscal year 2035: 32.0 percent. Fiscal year 2040: 18.0 percent.