The debt limit agreement reached by Congress and signed by President Biden June 3, 2023, calls for cuts in discretionary federal spending during the next two years. The debt limit deal does not dictate where budget cuts should be made, so the final decisions will occur through the annual Congressional appropriations process. Funding for most agencies that regulate the workforce is discretionary, so it is unlikely that agencies such as the Office of Federal Contract Compliance Programs (OFCCP), the Equal Employment Opportunity Commission (EEOC), and the National Labor Relations Board (NLRB) will receive funding increases, and indeed they could see actual spending cuts.
Members of the Center for Workplace Compliance (CWC) can read more here.