President Biden reveals budget proposal for fiscal 2025
Biden’s budget proposal would offer tax breaks for families, lower health care costs, smaller deficits and higher taxes on the wealthy and corporations.
Federal Budget Deficit
Shelby Proposes U.S. Constitutional Amendment Requiring Balanced Federal Budget
U.S. Sen. Richard Shelby has re-introduced legislation proposing a constitutional amendment to require Congress to have a balanced budget in an effort to reduce our nation’s increasing debt, which has surpassed $22 trillion, according to a statement from Shelby’s office. Sen. Shelby has introduced similar legislation each Congress since joining the Senate. “While our national debt continues to climb, it…
White House: Budget Deficit to Rise to $600 Billion
The White House is predicting the government’s budget deficit for the soon-to-close fiscal year will hit $600 billion. That’s an increase of $162 billion over last year’s tally and a reversal of a steady trend of large but improving deficits on President Barack Obama’s watch. The disappointing figures, while expected, come after the deficit has steadily declined since the huge…
