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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]
For about 48 hours last week, it looked like a debt ceiling fight in 2025 would be averted as ideas were floated to push the issue off until 2027 or 2029 (or even forever). But it was not to be.
Project 2025 (also known as the 2025 Presidential Transition Project [3]) is a political initiative published in April 2022 by the American conservative think tank the Heritage Foundation. The project aims to promote conservative and right-wing policies to reshape the federal government of the United States and consolidate executive power ...
The United States budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities of the government, reflecting historical debates and competing economic philosophies. The government primarily spends on healthcare, retirement, and defense programs.
The Tax Cuts and Jobs Act of 2017, which was enacted during president-elect Trump’s first term, is destined to expire at the end of 2025, which would bring back prior rules and generally higher ...
President-elect Donald Trump has selected Russell Vought as his pick to lead the Office of Management and Budget, he said in a Truth Social post.. Vought was one of the key authors of Project 2025 ...
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.
WASHINGTON — President-elect Donald Trump on Friday said he's nominating Russell Vought, a co-author of Project 2025, to lead the Office of Management and Budget, tapping a close ally who has ...
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