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The U.S. government posted an $87 billion budget deficit in December, reduced partly by a shift of benefit payments into November but capping a record $711 billion deficit for the first three ...
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]
In May 2024, the city of Los Angeles adopted a Fiscal Year 2024 - 2025 budget that cut the appropriations for the fire department by $17.6 million from the previous year.
The budget for the Los Angeles Fire Department (LAFD), one of several departments fighting the fires, was reduced by $17.6 million, or two percent, for the fiscal year 2024–2025. On December 4, 2024, LA Fire Chief Kristin Crowley said that the reduction has "adversely affected the Department's ability to maintain core operations" and ...
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 ...
Even if those tax breaks are allowed to lapse at year’s end, the federal budget deficit will still climb to $2.7 trillion in a decade, according to the CBO’s latest outlook, released Friday ...
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 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. [ 2 ] [ 3 ] Each chamber of Congress introduced a version of the NDAA: H.R. 2670 in the House and S. 2226 in the Senate .