The President’s Budget 2025

This year the President’s budget was released on Monday, March 11, 2024. The fiscal year (FY) 2025 budget begins on October 1, 2024. This is the fourth budget for the Biden Administration. Due to the unusual FY 2024 budget situation, it was delayed by one month from the statutory first Monday in February outlined under

Tax Package Still Stalled in Senate

The Tax Relief for American Families and Workers Act, the tax bill that includes a small but significant expansion to the child tax credit, continues to be stalled in the Senate after passing the House in a 357-72 vote, a major win in a Congress that has not been marked by bipartisan agreement and has

The State of the Union Address 2024

On Thursday, March 7, 2024, President Biden delivered his third State of the Union Address before members of Congress, Supreme Court Justices, and invited guests. He used the opportunity to highlight policy advancements that have happened during his administration, declared that “the State of the Union is strong and getting stronger.” The President started with

Congress Passes First Set of Appropriations Bills

Congress passed the first six Appropriations bills for 2024 last week. On Wednesday, March 6th, 2024, the House voted 339-85 to advance the package to the Senate; because the bills did not go through the Rules Committee, Speaker Mike Johnson (R-LA) had to rely on significant support from House Democrats to get the 2/3 majority

House Committee Marks Up Budget Resolution

On Thursday, March 7th, 2024, ahead of the President’s State of the Union Address, the House Budget Committee Chairman Jodey Arrington (R-TX) and Speaker Johnson announced a budget resolution for FY 2025. According to Chairman Arrington’s executive summary, the goal of this budget resolution is to reduce the deficit and curtail federal spending. The House

First set of FY 2024 Funding Bills Released

On February 28, 2024, House Speaker Johnson (R-LA), Senate Majority Leader Schumer (D-NY), Senate Minority Leader McConnell (R-KY) and House Minority Leader Jeffries (D-NY) along with House Appropriations Committee Chairwoman Granger (R-TX) and Ranking Member DeLauro (D-CT) and Senate Appropriations Committee Chair Murray (D-WA) and Vice Chair Collins (R-ME) released a statement unveiling a new

Funding Deadlines Loom While Tax Bill Stalls

The House and Senate will return from their Presidents’ Day recess this week without an agreement on the four funding bills that expire on March 1st, 2024, the end of this week. As previously reported, the House and Senate leadership were able to agree on topline numbers for the total FY 2024 budget that closely

Congress Prioritizes Budget and Child Tax Credit

Congress has returned to Capitol Hill and has a long list of priorities to address, including two impending government funding deadlines on January 19 and February 2, 2024. There has been good news on the budget front: it was announced on January 7 that House and Senate Leadership had reached an agreement on topline numbers

Congress Leaves Without Funding Agreement

Congress left Washington, D.C., on Thursday, December 14, 2023, without reaching an agreement on funding for FY2024, a bad sign for the new year. Although the Senate is expected to be back this week to work out an agreement on aid for Ukraine, Israel, and new immigration policies for the southern border, it’s unclear if

Congress Stalls on Taxes and Appropriations

With only one work week left in the first year of the 118th Congress, lawmakers have stalled on a number of top priorities, including appropriations and a forthcoming tax package, as well as supplemental funding for both foreign and domestic policies. On the tax policy front, there continues to be talk about a bipartisan package

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