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The Fiscal Responsibility Act of 2023, passed in June 2023, resolved that year's debt-ceiling crisis and set spending caps for FY2024 and FY2025. The act called for $895 billion in defense spending and $711 billion in non-defense discretionary spending for fiscal year 2025, representing a 1% increase over fiscal year 2024. [10]
The United States federal budget for fiscal year 2024 ran from October 1, 2023, to September 30, 2024. From October 1, 2023, to March 23, 2024, the federal government operated under continuing resolutions (CR) that extended 2023 budget spending levels as legislators were debating the specific provisions of the 2024 budget.
The United States budget process is the framework used by Congress and the President of the United States to formulate and create the United States federal budget.The process was established by the Budget and Accounting Act of 1921, [1] the Congressional Budget and Impoundment Control Act of 1974, [2] and additional budget legislation.
The Senate inched closer to passage of a $1.2 trillion package of spending bills late Friday after reaching agreement on a series of proposed amendment votes, though a final vote on passage was ...
When combining the two packages, discretionary spending for the budget year will come to about $1.66 trillion. That does not include programs such as Social Security and Medicare, or financing the country’s rising debt. Rep. Byron Donalds, R-Fla., said he expects more Republicans to vote against the second spending package than the first one.
President Biden signs government funding bill after Congress approval to avert shutdown December 20, 2024 at 12:27 PM The U.S. Capitol building (J. Scott Applewhite / AP)
WASHINGTON (Reuters) -As the U.S. Congress struggles to pass legislation to fund the government through the fiscal year that began in October, House Republicans on Thursday sought to jump the gun ...
On May 22, the House Armed Services Committee approved its version of the 2025 National Defense Authorization Act, by a 57–1 vote. [6] As passed by the Committee, the bill included the Pentagon's controversial "Legislative Proposal 480", transferring Air National Guard space units to the Space Force; however, the Committee accepted an amendment proposed by Joe Wilson (R‑SC), watering down ...