![]() However, conservative Republicans were expected to oppose any funding bill that did not defund Planned Parenthood as a result of the recent controversy. It was expected that a continuing resolution would be required to fund the government past October 1, 2015. The passage of a budget resolution opened the way for budget reconciliation procedures to be used to repeal the Affordable Care Act on a simple majority vote, although a presidential veto of such legislation was expected. The bill envisioned increasing military spending and decreasing social programs, with the goal of having a balanced budget by 2025. Congressional budget resolutions are non-binding and largely symbolic, in that the actual spending levels are specified in much greater detail in the appropriations bills to be passed later in the year. ![]() It was the first budget resolution successfully passed by Congress in over five years. Ĭongress passed its budget resolution in May 2015. It envisioned large tax increases on corporations and the wealthy, which were expected to be opposed by Congress, to fund programs in education and infrastructure. The administration requested funding levels for discretionary spending that were 7% over the budget caps specified in the Budget Control Act of 2011, roughly equally split between defense and non-defense programs. The Obama administration's budget was transmitted to Congress on February 2, 2015. The budget and appropriations legislation will be the first passed since Republicans gained majorities in both houses of the United States Congress in the 2014 midterm elections. Although the word "sequestration" was widely applied to refer to these cuts, even a continuing resolution would not cause another round of across-the-board sequestration cuts as in 2013 because the FY2016 discretionary defense cap is still slightly larger than the FY2015 cap in nominal terms. Ĭoncern was expressed that the BCA caps for defense were far below the Obama administration's budget request and would lead to cuts relative to these increased levels. The Bipartisan Budget Act of 2013 increased the budget caps for FY2014 and FY2015 by $45 billion and $18 billion, respectively. These were first applied in FY2013 they resulted in across-the-board sequestration cuts because that budget was funded through a full-year continuing resolution that exceeded the budget caps. The Budget Control Act of 2011 (BCA) had established spending caps on defense and non-defense spending. The final funding package was passed as an omnibus spending bill, the Consolidated Appropriations Act, 2016, enacted on December 18, 2015. The government was initially funded through a series of three temporary continuing resolutions. The requested budget was submitted to the 114th Congress on February 2, 2015. While spending as a share of GDP will fall slightly in 2021, it is projected to grow almost every year after that, reaching 23.4 percent of GDP by 2030.The United States Federal Budget for fiscal year 2016 began as a budget proposed by President Barack Obama to fund government operations for Octo– September 30, 2016. ![]() Spending is now growing once again as a share of GDP, projected to stay around 21 percent of GDP in FY 2020, which is its highest mark as a share of GDP since 2012. While spending actually shrank as a share of GDP between 20 – from 20.8 percent of GDP to 20.2 percent – that trend has entirely reversed. This spending growth is true both in dollars and as a share of the economy. Spending in FY 2020 is projected to be at least $200 billion more than 2019, about two-thirds of which is due to increasing mandatory spending and net interest, while the remaining third comes from recent discretionary spending increases. That trend has only accelerated since 2016, with spending increasing by nearly $340 billion between FY 20 alone. Total federal spending has grown every year since 2013, growing from $3.45 trillion in FY 2013 to a projected $4.65 trillion in FY 2020. Yet, since President Trump's election in 2016, total spending has grown by nearly $800 billion – from $3.85 trillion (20.8 percent of Gross Domestic Product) in 2016 to $4.65 trillion (21.0 percent of GDP) in 2020. The Administration cites the need to restrain spending as its way to address our unsustainable debt trajectory. President Trump's Fiscal Year (FY) 2021 budget calls for about $3.2 trillion in net deficit reduction over the next decade by our estimate, including nearly $2 trillion in cuts to discretionary spending.
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