For the fiscal year (FY) 2024, which begins on October 1, 2024, President Biden released his budget request on March 9, 2023. The President’s Budget for Fiscal Year 2024 Requests a Total of $6.9 Trillion in Spending across Both Mandatory and Discretionary Programs.
The discretionary portion, at $1.9 trillion, would represent a nearly 10% increase over the FY 2023 topline spending level, while required spending would total $4.2 trillion. Overall discretionary spending in FY 2024 would be $1.02 trillion, up over 4% from FY 2023 levels, with defense spending increasing by roughly 3% to $885 billion.
To help bring down the national debt by $3 trillion over the next decade, the president’s budget plan called for a 7 percent rise in non-defense spending beyond the current level, in addition to tax increases. Counties back several parts of the president’s budget, including his priority to keep funding the execution of crucial Bipartisan Infrastructure Law (BIL) initiatives and to help make communities safer.
Discover more about the area’s best attractions and activities by reading our articles, and you could just discover some hidden gems right in your own county:
- The County of Bernalillo’s Budget is Close to $400 Million
- Hawaiʻi County Council Approves 45-Person Animal Control Agency
- UVCC Welcomes Shelby County Students to Compete in the Trades
Every year, Congress must start by considering the president’s budget request. The budget request will serve as a starting point for the House of Representatives and the Senate to craft their own budget resolutions and appropriations packages in the following weeks and months.
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