Budget Deal

Congressional Leaders Strike Deal on Spending Levels, Navigating Away from Shutdown Risk

by

Congress achieved a spending agreement for the current fiscal year, preventing a government shutdown. Congress set spending restrictions for defense and domestic programs as part of a debt limit suspension package until 2025. The agreement matches them. The revised pact addresses House Republicans’ complaints about the first spending constraints, but it otherwise follows the agreement … Read more

California Governor and Democrats Reach Budget Deal, Addressing $32 Billion Deficit Without Draining State Savings

by
California Governor and Democrats Reach Budget Deal

The plan aims to address a budget deficit of nearly $32 billion without depleting the state’s savings account. California Governor Gavin Newsom and Democratic legislators have reached an agreement on a budget deal to allocate $310.8 billion for the upcoming year California, which heavily relies on tax revenues from the wealthy, experienced slowed revenue growth … Read more