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The United States federal budget for fiscal year 2024 ran from October 1, 2023, to September 30, 2024. From October 1, 2023, to March 23, 2024, the federal government operated under continuing resolutions (CR) that extended 2023 budget spending levels as legislators were debating the specific provisions of the 2024 budget.
Making continuing appropriations for fiscal year 2024, and for other purposes H.R. 5860, extending temporary funding through November 17, 2023. Further Continuing Appropriations and Other Extensions Act, 2024 H.R. 6363, extending temporary funding of certain government programs until January 19, 2024, and most of the rest until February 2, 2024.
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. [ 2 ] [ 3 ] Each chamber of Congress introduced a version of the NDAA: H.R. 2670 in the House and S. 2226 in the Senate .
As of 10 March 2023 the fiscal year 2024 (FY2024) presidential budget request was $842 billion. [ a ] In January 2023 Treasury Secretary Janet Yellen announced the US government would hit its $31.4 trillion debt ceiling on 19 January 2023; [ 52 ] the date on which the US government would no longer be able to use extraordinary measures such as ...
Each year, the President of the United States submits a budget request to Congress for the following fiscal year as required by the Budget and Accounting Act of 1921. Current law (31 U.S.C. § 1105(a)) requires the president to submit a budget no earlier than the first Monday in January, and no later than the first Monday in February. Typically ...
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]
As of 11 March 2024 the US Department of Defense fiscal year 2025 (FY2025) budget request was $849.8 billion. [a] On 20 December 2024 the House approved a Continuing Resolution to fund DoD and DoE operations at the FY2024 levels until 14 March 2025, at which time the Appropriations process for the NDAA is to be revisited by the 119th Congress. [4]
The Congressional Budget and Impoundment Control Act of 1974 created the current fiscal year of 1 October to 30 September, making the change to allow Congress more time to arrive at a budget and creating what is known as the "transitional quarter" from 1 July 1976 to 30 September 1976. For example, the United States government Fiscal Year 2024 ...