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A budget resolution for the 2021 fiscal year began to be considered by the 117th United States Congress in February 2021. As appropriations for the fiscal year had already been approved, the budget resolution's main purpose was to begin the budget reconciliation process to allow a COVID-19 pandemic relief bill to be passed without the possibility of being blocked by a filibuster.
The Trump administration's budget proposal was released on March 11, 2019. [2] [3]On August 1, 2019, the Bipartisan Budget Act of 2019 was passed by the House.The next day, on August 2, 2019, the bill was passed by the Senate and signed into law by President Trump.
The CBO forecast in April 2020 that the budget deficit in fiscal year 2020 would be $3.7 trillion (17.9% GDP), versus the January estimate of $1 trillion (4.6% GDP). CBO also forecast the unemployment rate would rise to 16% by Q3 2020 and remain above 10% in both 2020 and 2021. [93]
The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays ...
“Another fake jobs report out from Biden-Harris government today,” Rubio wrote in a post on X. “16 of the last 17 reports have been significantly revised downwards after media helps them ...