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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]
Project 2025's blueprint includes repealing the Inflation Reduction Act, which offers $370 billion for clean technology, closing the Loan Programs Office and the Office of Clean Energy Demonstrations at the Department of Energy, eliminating climate change mitigation from the National Security Council's agenda, and encouraging allied nations to ...
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 ...
Shelby County Board of Commissioners approved their $1.6 billion operating budget for fiscal year 2025 in the early hours of Tuesday morning. The almost 12-hour long meeting was tense, with the ...
The budget reduces property taxes, as the levy will go down 0.05% from about $94.57 million in 2024 to $94.53 million in 2025. Overall spending would increase 5.44% from $387.1 million in 2024 to ...
(The Center Square) – Spokane County passed its 2025 budget on Monday, decreasing total spending by nearly 6% while using up $57.4 million of its overall fund balance. The $864.8 million budget ...
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.
Inflation provides a total of $8.7 million in funding for the 2025 fiscal year. The inflation rate for the budget is at 1.35%. Each 1% change in inflation equals $4.8 million.