Budget Process
Latest
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Statement on House Passage of Fiscal Responsibility Act
The House of Representatives recently passed the Fiscal Responsibility Act (FRA), which according to CBO would reduce debt levels by roughly $1.5...
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Congress Should Act Swiftly to Pass Fiscal Responsibility Act
The House will vote tomorrow on the Fiscal Responsibility Act of 2023 – bipartisan legislation to limit discretionary spending, suspend the debt limit...
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CRFB Reacts to Budget Agreement
Speaker McCarthy announced this evening that he and the President have reached an agreement in principle on a bipartisan plan to reduce deficits and...
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Q&A: Everything You Should Know About the Debt Ceiling
The federal debt ceiling was raised in December of 2021 by $2.5 trillion to $31.381 trillion, which lasted until January 19, 2023, according to a...
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House Appropriations Committee Publishes FY 2024 Community Project Funding Requests
In an effort to improve transparency around the appropriations process, the House Appropriations Committee recently centralized a list of Fiscal Year...
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John Kasich and Timothy Penny: Balanced Budgets Don't Need to Be a Thing of the Past
John Kasich and Timothy Penny are former Members of Congress and a board member and a co-chair, respectively, of the Committee for a Responsible...
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Rep. Golden Releases Fiscal Framework to Stabilize Debt
Today, Representative Jared Golden (D-ME) published a piece calling for lawmakers to raise the debt limit and then negotiate a responsible budget deal...
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Congress On Track to Miss Budget Deadline for 20th Year in a Row
The statutory deadline for Congress to complete action on a concurrent budget resolution for Fiscal Year (FY) 2024 is April 15. The budget process...
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Lawmakers Reintroduce Sustainable Budget Act
Lawmakers in both chambers of Congress recently reintroduced the Sustainable Budget Act, with Representatives Ed Case (D-HI) and Steve Womack (R-AR)...
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One Month Until Congressional Budgets Come Due
The deadline for the House and Senate Budget Committees to propose and reconcile their respective budgets for Fiscal Year (FY) 2024 – April 15 th – is...
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CRFB Reacts to the President’s FY 2024 Budget
President Biden released his Fiscal Year (FY) 2024 budget request moments ago, outlining his tax and spending priorities over the next decade. Under...
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CBO Briefing Shines Light on Our Fiscal Challenges
Later today, Congressional Budget Office (CBO) Director Phillip Swagel will brief members of the House of Representatives on the Budget and Economic...