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Biden, GOP release dueling budget blueprints

President Biden and House Republicans are in the midst of a tense drafting of next year’s budget as the battle for control of the White House and Congress intensifies. Biden released his 2025 budget request on Monday, and the Republican-led House Budget Committee advanced a budget resolution last week. While it is unlikely that either […]

What’s in Biden’s $895B defense budget?

The $895.2 billion proposal is the highest ever for defense spending, but is constrained by the budget caps President Biden and then-House Speaker and former Rep. Kevin McCarthy (R-Calif.) agreed to last summer. There is. Keep spending growth to 1% For the next two years. The request, which will certainly run into opposition from the […]

Biden unveils massive $7.3T budget with $5.5T in tax hikes post-State of the Union address

President Biden released his election-year budget proposal on Monday, calling for $5.5 trillion in tax increases through higher rates on the wealthy and big corporations, while cutting back on federal benefits programs, affordable housing and student loans. He called for an increase in spending on things like write-offs. The 2025 budget is highly unlikely to […]

Biden unveils sweeping budget blueprint for next term

President Biden on Monday unveiled a sweeping $7.3 trillion 2025 budget request that includes a series of ambitious partisan proposals aimed at raising taxes on the wealthy and corporations. The president has vowed to reduce the nation’s deficit by $3 trillion over the next 10 years, while focusing on proposals such as raising the corporate […]

America’s defense spending dragged into budget chaos 

The Pentagon is venturing into somewhat unprecedented territory as it prepares to release its fiscal year 2025 budget next Monday. The Department of Defense (Department of Defense) does not yet have a full budget for 2024, faces looming 1% across-the-board cuts unless Congress can break the impasse, and is still reeling from years of high […]

Republicans advance 2025 budget blueprint ahead of Biden’s State of the Union 

The Republican-led House Budget Committee on Thursday released a budget that includes ambitious proposals aimed at cutting federal spending, tightening work requirements for social programs and creating a special committee to address entitlement funding threats. Voted in favor of moving forward with the resolution. After several hours of price increase hearings that began early Thursday, […]