On Monday, the White House released its budget proposal for FY 2023 which includes a section on expanding opportunities for workers and small businesses and also repeals the Trump tax cuts.
Tag Archive: Budget
The Senate is set to take up the House-passed Build Back Better reconciliation bill with the goal of finishing work on the package before the Christmas break.
On Nov. 19, the House passed 220-212 the Build Back Better reconciliation bill (H.R. 5376) that includes more than $1.5 trillion in business and individual tax increases.
Last night, the House voted to pass legislation to prevent a government shutdown at the end of the month and suspend the nation’s borrowing limit. The party line vote was 220-211.
The House Budget Committee has announced it will not mark up the Democrats’ reconciliation package in time for it to move in conjunction with the Sept. 27 vote on the bipartisan infrastructure bill.
Democrats announced they would attach a 15-month suspension of the federal debt limit to a stopgap funding bill, a measure opposed by Republicans. House is expected to vote on September 21.
As lawmakers move forward on budget proposals under the reconciliation bill, NSBA has put together a comprehensive overview of what's most likely to impact small business.
On Aug. 24, the House voted 220-212 along party lines to approve a $3.5 trillion budget framework, after several days of negotiating between Democratic leadership and a group of 10 centrists who had planned to vote against the budget unless the infrastructure vote came first. Speaker Nancy Pelosi (D-Calif.) reached the deal with Rep. Josh Gottheimer (D-N.J.) and the other moderates in the hours before the vote, clearing the way for the spending package.
President Barack Obama yesterday released his FY 2015 budget projecting a deficit of 1.6 percent of the economy by 2024, down from 1.7 percent projected for 2023 in his last budget blueprint while the federal debt would rise to $25 trillion in 2024, up from $17.9 trillion in 2014.
The Senate today is expected to take a full vote on the bipartisan two-year budget deal, which would modify sequestration over the next two years, set top-line spending at just over 1 trillion for 2014 and 2015, and raise $85 billion over the next decade, among other items.