The Congressional Budget Office regularly publishes reports presenting its baseline projections of what the federal budget and the economy would look like in the current year and over the next 10 years if laws governing taxes and spending generally remained unchanged.
The CBO revised down its projection of the total of all deficits from 2025 to 2034 to $21.1 trillion in the January 2025 outlook from $22.1 trillion in the June 2024 outlook. “The main factor contributing to a smaller projected cumulative deficit over that period is an increase in projected individual income tax receipts, driven by greater projections of taxable income in CBO’s economic forecast.”
An Update to the Budget and Economic Outlook: 2024 to 2034 | Congressional Budget Office - 6/18/2024