Senate Democrats Block Budget Plan Talks for 2025-2034

Chamber
senate

3 months ago - Politics

Senate Democrats blocked the motion to start discussing the budget plan for the years 2025 to 2034. The vote count was 39 in favor, and 56 against. This plan included details on federal revenue, new budget authority, total spending, deficits, and public debt, aiming for balanced budgets from 2030 onwards.

This is a plan that sets how much money the U.S. government plans to collect and spend over the next ten years. It is for the fiscal years 2025 through 2034.

  • Money Collected (Federal Revenues): Each year, the government plans to collect taxes and other money. In 2025, they aim to collect about $3.75 trillion and this amount is expected to increase each year up to about $5.66 trillion by 2034.

  • Money Spent (Budget Outlays): The government plans how much to spend each year. For example, in 2025, it plans to spend about $5.16 trillion. This spending will also increase every year.

  • Deficits (Money Shortfall): This refers to the gap between how much is spent and collected. In 2025, the government will spend more than it collects by about $1.45 trillion. They plan to reduce this shortfall over the years and aim to have no deficit from 2030 to 2034.

  • Public Debt (Total Debt): This is the total amount the government owes. It's forecasted to rise from about $38 trillion in 2025 to about $56.95 trillion in 2034.

  • Debt Held by the Public: This is the portion of total debt that is owned by people, businesses, and foreign governments. It is expected to go from about $31.12 trillion in 2025 up to around $40 trillion in 2033, showing growth over the years.

In summary, this document provides a financial roadmap for the U.S. government, outlining heights of spending, intake of revenues, and management of the national debt over a ten-year period. It shows planned increases in both earnings and expenses, alongside strategies to handle the national debt.

95 votes

Yes

39

No

56

Not Voting

5

  1. Placed on Calendar Senate

    This is a plan that sets how much money the U.S. government plans to collect and spend over the next ten years. It is for the fiscal years 2025 through 2034.

    • Money Collected (Federal Revenues): Each year, the government plans to collect taxes and other money. In 2025, they aim to collect about $3.75 trillion and this amount is expected to increase each year up to about $5.66 trillion by 2034.

    • Money Spent (Budget Outlays): The government plans how much to spend each year. For example, in 2025, it plans to spend about $5.16 trillion. This spending will also increase every year.

    • Deficits (Money Shortfall): This refers to the gap between how much is spent and collected. In 2025, the government will spend more than it collects by about $1.45 trillion. They plan to reduce this shortfall over the years and aim to have no deficit from 2030 to 2034.

    • Public Debt (Total Debt): This is the total amount the government owes. It's forecasted to rise from about $38 trillion in 2025 to about $56.95 trillion in 2034.

    • Debt Held by the Public: This is the portion of total debt that is owned by people, businesses, and foreign governments. It is expected to go from about $31.12 trillion in 2025 up to around $40 trillion in 2033, showing growth over the years.

    In summary, this document provides a financial roadmap for the U.S. government, outlining heights of spending, intake of revenues, and management of the national debt over a ten-year period. It shows planned increases in both earnings and expenses, alongside strategies to handle the national debt.

  2. Placed on Senate Legislative Calendar under General Orders. Calendar No. 502.
  3. Senate Committee on the Budget discharged pursuant to section 300 of the Congressional Budget Act.
  4. Referred to the Committee on the Budget. (text: CR S6024-6030)
  5. Introduced in Senate