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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. [11] Graphic released by Speaker Mike Johnson's office following the vote. On February 25, 2025, the House of Representatives approved H. Con. Res 14 by a 217
[7] As of February 22, 2025, about 30,000 workers had been laid off or fired. [4] [8] [9] Several lawsuits allege that the dismissals are illegal. In some cases, the administration rescinded layoff notifications. [10] A far larger number of federal workers are slated to be dismissed in a series of agency reductions in force. On February 26 ...
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.
Watch for these 5 changes to Social Security in 2024. ... 2.5 percent in 2025. The 2.5 percent adjustment will amount to an average increase of $50 in monthly benefits for retired workers on ...
In 2025, the maximum earned income tax credit for low- to moderate-income families with three or more children rises to $8,046, a slight increase from this year. This credit helps support working ...
CBO estimated in February 2024 that federal debt held by the public is projected to rise from 99 percent of GDP in 2024 to 116 percent in 2034 and would continue to grow if current laws generally remained unchanged. Over that period, the growth of interest costs and mandatory spending outpaces the growth of revenues and the economy, driving up ...
For 2025, the Social Security wage base — the cap on earnings subject to Social Security tax — will rise to $176,100, meaning only income up to that amount is taxed for Social Security.
Signed into law by President Joe Biden on December 23, 2024 [1] The National Defense Authorization Act for Fiscal Year 2025 (NDAA 2025) is a United States federal law which specifies the budget, expenditures, and policies of the U.S. Department of Defense (DOD) for fiscal year 2025.