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1 [i] (March 19, 2020)

handle is hein.congrec/cbobbpg0001 and id is 1 raw text is: Baseline Budget Projections as of March 6, 2020 March 2020 The Congressional Budget Office's spring baseline budget projections are based this year, as they usually are, on the agency's January economic forecast. However, interest rates and some other economic variables are far from the amounts CBO projected for the beginning of this year, in large part because of responses to the novel coronavirus. Because the spring baseline incorporates legislative and technical revisions that are useful to policymakers, CBO is making it available to the Congress now, even though it does not incorporate the estimated effects of the novel coronavirus or any economic news since January. Incorporating those recent developments would warrant substantial revisions, which would take additional time and would affect projections of both spending and revenues. This document provides tables with the spring baseline projections and an explanation of the changes since January 2020, including the effects of legislation enacted through March 6, 2020; additional details about selected programs are available on CBO's website. CBO will update its economic and budget projections later this year. www.cbo.gov/publication/56268