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The United States federal budget for fiscal year 2022 ran from October 1, 2021, to September 30, 2022. The government was initially funded through a series of four temporary continuing resolutions . The final funding package was passed as an omnibus spending bill , the Consolidated Appropriations Act, 2022 .
The Inflation Reduction Act of 2022 (IRA) is a United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16, 2022.
As a result of the adverse economic impact, both state and federal budget deficits will dramatically increase, even before considering any new legislation. [ 88 ] To help address lost income for millions of workers and assist businesses, Congress and President Trump enacted the Coronavirus Aid, Relief, and Economic Security Act (CARES) on March ...
According to data from the Congressional Budget Office, pay and benefits for federal workers in 2022 cost $271 billion, making up only 4.3% of that year’s budget.
The president is requesting a defense budget of $842 billion in the fiscal year of 2024, a 3.2% increase from fiscal year 2023 that includes $6 billion for continued support to Ukraine.
In a move that was widely anticipated -- especially since Chair Jerome Powell's Brooking Institute speech last month -- the Federal Reserve unanimously said it will raise interest rates by half a...
President Obama's 2010 budget proposal includes a total of $663.8 billion, including $533.8 billion for the DOD and $130 billion for overseas contingencies, primarily the wars in Iraq and Afghanistan. The proposed DoD base budget represents an increase of $20.5 billion over the $513.3 billion enacted for fiscal 2009.
The Congressional Budget Office estimates the debt ceiling package that was signed into law this summer to prevent a national default could result in a $1.5 trillion decrease to the deficit over ...