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The United States budget process is the framework used by Congress and the President of the United States to formulate and create the United States federal budget. The process was established by the Budget and Accounting Act of 1921, the Congressional Budget and Impoundment Control Act of 1974, and additional budget legislation.
In the United States, a continuing resolution is a type of appropriations legislation. An appropriations bill is a bill that appropriates money to specific federal government departments, agencies, and programs. The money provides funding for operations, personnel, equipment, and activities. Regular appropriations bills are passed annually, with the funding they provide covering one fiscal year. The fiscal year is the accounting period of the federal government, which runs from October 1 to September 30 of the following year.
In the United States, government shutdowns occur when funding legislation required to finance the federal government is not enacted before the next fiscal year begins. In a shutdown, the federal government curtails agency activities and services, ceases non-essential operations, furloughs non-essential workers, and retains only essential employees in departments that protect human life or property. Shutdowns can also disrupt state, territorial, and local levels of government.
In the United States, the debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury, thus limiting how much money the federal government may pay by borrowing more money, on the debt it already borrowed. The debt ceiling is an aggregate figure that applies to gross debt, which includes debt in the hands of the public and intra-government accounts. About 0.5 percent of the debt is not covered by the ceiling. Because expenditures are authorized by separate legislation, the debt ceiling does not directly limit government deficits. In effect, it can only restrain the Treasury from paying for expenditures and other financial obligations after the limit has been reached, but which have already been approved and appropriated.
In 2011, ongoing political debate in the United States Congress about the appropriate level of government spending and its effect on the national debt and deficit reached a crisis centered on raising the debt ceiling, leading to the passage of the Budget Control Act of 2011.
The proposed Cut, Cap and Balance Act of 2011 was a bill put forward in the 112th United States Congress by Republicans during the 2011 U.S. debt ceiling crisis. The provisions of the bill included a cut in the total amount of federal government spending, a cap on the level of future spending as a percentage of GDP, and, on the condition that Congress pass certain changes to the U.S. Constitution, an increase in the national debt ceiling to allow the federal government to continue to service its debts.
The history of the United States debt ceiling deals with movements in the United States debt ceiling since it was created in 1917. Management of the United States public debt is an important part of the macroeconomics of the United States economy and finance system, and the debt ceiling is a limitation on the federal government's ability to manage the economy and finance system. The debt ceiling is also a limitation on the federal government's ability to finance government operations, and the failure of Congress to authorize an increase in the debt ceiling has resulted in crises, especially in recent years.
The 1996 United States federal budget is the United States federal budget to fund government operations for the fiscal year 1996, which was October 1995 – September 1996. This budget was the first to be submitted after the Republican Revolution in the 1994 midterm elections. Disagreements between Democratic President Bill Clinton and Republicans led by Speaker of the House Newt Gingrich resulted in the United States federal government shutdown of 1995 and 1996.
The Continuing Appropriations Act, 2014 is a law used to resolve both the United States federal government shutdown of 2013 and the United States debt-ceiling crisis of 2013. After the Republican-led House of Representatives could not agree on an originating resolution to end the government crisis, as had been agreed, the Democratic-led Senate used bill H.R. 2775 to resolve the impasse and to satisfy the Origination Clause requirement of Article One of the United States Constitution, which requires that revenue bills must originate in the House of Representatives. Traditionally, appropriation bills also originate in the House of Representatives.
In January 2013, the United States reached the, at the time, debt ceiling of $16.394 trillion that had been enacted following a crisis in 2011. President Obama and members of the Democratic Party proposed raising the debt ceiling, with some advocating for its complete dismissal. Members of the Republican Party staunchly opposed raising the debt ceiling unless spending cuts would parallel the bill, including defunding the Affordable Care Act. Previous raises of the debt ceiling have been largely bipartisan without conditions.
In the United States Congress, an appropriations bill is legislation to appropriate federal funds to specific federal government departments, agencies and programs. The money provides funding for operations, personnel, equipment and activities. Regular appropriations bills are passed annually, with the funding they provide covering one fiscal year. The fiscal year is the accounting period of the federal government, which runs from October 1 to September 30 of the following year. Appropriations bills are under the jurisdiction of the United States House Committee on Appropriations and the United States Senate Committee on Appropriations. Both Committees have twelve matching subcommittees, each tasked with working on one of the twelve annual regular appropriations bills.
The 2017 United States federal budget is the United States federal budget for fiscal year 2017, which lasted from October 1, 2016 to September 30, 2017. President Barack Obama submitted a budget proposal to the 114th Congress on February 9, 2016. The 2017 fiscal year overlaps the end of the Obama administration and the beginning of the Trump administration.
The United States federal budget for fiscal year 2018, which ran from October 1, 2017, to September 30, 2018, was named America First: A Budget Blueprint to Make America Great Again. It was the first budget proposed by newly elected president Donald Trump, submitted to the 115th Congress on March 16, 2017.
The United States federal government shut down at midnight EST on Saturday, January 20, 2018, until the evening of Monday, January 22. It began after a failure to pass legislation to fund government operations and agencies. This stemmed from disputes over the extension of status of persons affected by the Deferred Action for Childhood Arrivals (DACA) immigration policy, and therefore whether those covered under the program should face deportation. There was also a dispute over whether funding should be allocated towards building a Mexico–United States border wall. According to estimates by the New York Times, 692,900 workers were furloughed during the shutdown. It was the first government shutdown under Republican leadership under the White House, House of Representatives, and U.S. Senate.
The United States federal government shutdown from midnight EST on December 22, 2018, until January 25, 2019 was the longest government shutdown in history and the second and final federal government shutdown involving furloughs during the presidency of Donald Trump. It occurred when the 115th Congress and Trump could not agree on an appropriations bill to fund the operations of the federal government for the 2019 fiscal year, or a temporary continuing resolution that would extend the deadline for passing a bill. The Antideficiency Act prohibits federal departments or agencies from conducting non-essential operations without appropriations legislation in place. As a result, nine executive departments with around 800,000 employees had to shut down partially or in full, affecting about one-fourth of government activities and causing employees to be furloughed or required to work without being paid. The Congressional Budget Office estimated the shutdown cost the American economy at least $11 billion USD, excluding indirect costs that were difficult to quantify.
The National Emergency Concerning the Southern Border of the United States was declared on February 15, 2019, by President of the United States Donald Trump. Citing the National Emergencies Act, it ordered the diversion of billions of dollars of funds that had been appropriated to the U.S. Department of Defense for military construction. Trump declared the emergency after he signed, but derided, a bipartisan funding bill containing border security funding without funding for the border wall that Trump demanded.
The William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 is a United States federal law which specifies the budget, expenditures and policies of the U.S. Department of Defense (DOD) for fiscal year 2021. Analogous NDAAs have been passed annually for 59 years. The act is named in honor of Representative Mac Thornberry, who served as either the chair or the ranking member of the House Armed Services Committee. Thornberry retired from Congress at the end of the congressional session.
The Consolidated Appropriations Act, 2021 is a $2.3 trillion spending bill that combines $900 billion in stimulus relief for the COVID-19 pandemic in the United States with a $1.4 trillion omnibus spending bill for the 2021 federal fiscal year and prevents a government shutdown. The bill is one of the largest spending measures ever enacted, surpassing the $2.2 trillion CARES Act, enacted in March 2020. The legislation is the first bill to address the pandemic since April 2020. According to the Senate Historical Office, at 5,593 pages, the legislation is the longest bill ever passed by Congress.
The United States federal budget for fiscal year 2024 runs from October 1, 2023, to September 30, 2024.
References
- ↑ "United States Senate Glossary - "must pass" bill". United States Senate. Archived from the original on 19 July 2011. Retrieved 7 October 2011.
- ↑ "Government Shutdown Inevitable As Congress Adjourns Amid Border Wall Funding Impasse". NPR.org. Archived from the original on 2018-12-22. Retrieved 2019-11-14.
- ↑ "Financial catastrophe looms as Congress works to address the country's debt ceiling". NPR.org. Archived from the original on 2021-10-26. Retrieved 2021-10-26.
- ↑ "Debt ceiling hangs over Democrats' legislative home stretch". Roll Call. 2021-10-25. Archived from the original on 2021-10-25. Retrieved 2021-10-26.
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