The United States federal budget for fiscal year 2025 runs from October 1, 2024, to September 30, 2025.
| Submitted by | Joe Biden |
|---|---|
| Submitted to | 119th Congress |
| Website | Budget of the US Government |
|
‹ 2024 2026› | |
Background
editUnder the United States budget process established in 1921, the US government is funded by twelve appropriations bills that are formed as a response to the presidential budget request submitted to congress in the first few months of the calendar year. The various legislators in the two chambers of congress negotiate over the precise details of the various appropriations bills. In some politically contentious years when these negotiation processes deadlock, the Legislative Branch passes a continuing resolution that essentially extends the current funding levels into the new fiscal year until a budget can be agreed upon by a majority of both houses and signed into law by the President of the United States. Supplemental appropriations bills can provide additional appropriations for emergencies and other matters.
These appropriations bills are classified as discretionary spending, and make up around 22% of federal expenditures. The remainder is classified as mandatory spending, which includes programs such as Social Security and Medicare, as well as interest on debt.[1]
Budget legislation
editPresident Joe Biden released his budget proposal in March 2024.[2]
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.
Appropriations legislation
editSeptember 2024 continuing resolution
editOn September 9, with only 22 days left until funding appropriated in 2024 was due to expire, the Continuing Appropriations and Other Matters Act, 2025, was introduced. The bill combined a continuing appropriations provision, which renewed government funding at the previous year's levels for six more months, with a voting reform measure which would have made it compulsory to show proof of citizenship before voting in Federal elections.[3]
The proposed Act drew criticism from both Democrats (who believed the new voting requirements could disenfranchise poor American citizens unable to afford I.D. renewal) and hardline Republicans (who were disappointed by the lack of spending cuts).
On September 18, the House rejected the draft law in a 202—220 vote. 199 Republicans and 3 Democrats voted in favor; 14 Republicans and 206 Democrats voted against. In addition, two Republicans (Marjorie Taylor Greene and Thomas Massie) voted "present".[4]
House Speaker Mike Johnson subsequently opted to put forwards a clean continuing resolution funding the government until December 20.[5] The bill passed the House on September 25 by a vote of 341 to 82, and the Senate on September 26 by a vote of 78 to 18; it was signed into law by President Biden later the same day.[6][7]
References
edit- ^ Street, 351 Pleasant; MA, Suite B. #442 Northampton. "Federal Spending: Where Does the Money Go". National Priorities Project. Retrieved 2024-03-27.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ Aris Folley, Alex Gangitano (2023-03-09). "Breaking down Biden's budget: Here's what's in it". The Hill. Retrieved 2024-03-27.
- ^ H.R. 9494
- ^ "US House fails to pass federal funding bill as shutdown deadline nears".
- ^ H.R. 9747
- ^ "House approves 3-month funding extension to avoid government shutdown, sending bill to Senate".
- ^ "Biden signs three-month funding bill to avert US government shutdown".