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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 National Defense Authorization Act is an annual bill proposed in the United States Congress that redefines the United States military budget for the following fiscal year. Each chamber of Congress introduces a version of the NDAA for 2025. The House introduced H.R. 8070 on April 18 and sent it to the Senate on July 8 for consideration.
But the two-year budget deal struck in mid-2023 capped the 2025 defense budget at 1% above the $886 billion 2024 budget. As a result, Biden's total 2025 national security budget will be $895 billion.
The measure would likely keep the roughly $6.2 trillion federal budget running at its current level, funding everything from the military to air traffic controllers to federal securities ...
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to ...
Despite the name, it is unlikely to be a federal executive department, since official departments require congressional approval, and is more likely to be a component of the Executive Office of the President or a presidential commission working closely with the Office of Management and Budget.
In 2025, King County Regional Homelessness Authority – better known as KCRHA – is being dedicated $206.87 million in funding from a collective of Seattle, King County, a few north King County ...
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.