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On January 27, 2025, memo M-25-13 was released by Matthew Vaeth, acting director for the Office of Management and Budget (OMB). [1] [2] The memo said that the federal government of the United States in fiscal year 2024 spent over $3 trillion in federal "financial assistance, such as grants and loans", criticized the usage of "resources to advance Marxist equity, transgenderism, and [Green New ...
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 federal government is currently funded through a continuing resolution set to expire on March 15, 2025, despite the offer to pay salaries through September 30, 2025. [17] The Antideficiency Act means that the US government cannot enter into unfunded contracts.
Here are five ways Trump’s plan to eliminate income taxes could impact your salary in 2025. Trending Now: Suze Orman's Secret to a Wealthy Retirement--Have You Made This Money Move?
A federal judge extended indefinitely the deadline for government workers to accept a government buyout, as a lawsuit to block the offer continues in court. U.S. District Court Judge George O ...
Both employees and employers pay a 6.2% tax on wages up to a "taxable maximum" limit of $176,100 in 2025. That's a total of 12.4% of wages (self-employed workers pay the whole thing).
Tesla CEO and X owner Elon Musk reacts as U.S. President Donald Trump delivers his inaugural address during inauguration ceremonies in the U.S. Capitol Rotunda on January 20, 2025 in Washington, DC.
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 ...