Analytical Perspectives, Budget of the U.S. Government, Fiscal Year 2024 (2024)

FAQs

What is the budget for fiscal year 2024? ›

Federal outlays in 2024 total $6.5 trillion, which amounts to 23.1 percent of GDP. They stay close to that level through 2028 and then increase, reaching 24.1 percent of GDP by 2034. Growth in spending on programs that benefit elderly people and rising net interest costs drive those increases.

The proposed 2024 budget amounts to PhP5. 768 trillion. It is 9.5 percent higher than the 2023 budget of PhP5. 268 trillion and is estimated to account for 21.7 percent of the gross domestic product (GDP) in 2024.

The President's Fiscal Year (FY) 2024 Budget Request for the State Department and the United States Agency for International Development (USAID) is $63.1 billion for foreign assistance and diplomatic engagement, which includes $32 billion in foreign assistance for USAID fully- and partially-managed accounts, $3 billion ...

DOE proposes $51.99 billion in budget authority for FY 2024, a $6.2 billion, or 13.6 percent, increase from the FY 2023 Enacted Level.

It is estimated at Rs 3,99,701 crore in 2024-25, an increase of 6.4% over the revised estimate of 2023-24. Capital receipts (excluding borrowings) are targeted at Rs 79,000 crore, an increase of 41% over the revised estimates of 2023-24.

FY 2024 DEFENSE FUNDING LEVELS

Within this topline, the legislation authorizes $841.4 billion for the Department of Defense (DOD), $32.4 billion for national security programs within the Department of Energy (DOE), and $438.0 million in defense-related activities.

Total expenditure (excluding debt repayment) in 2024-25 is targeted at Rs 6,96,632 crore. This is an increase of 14% over the revised estimate of 2023-24.

Deficits and outlays have been adjusted to exclude the effects of shifts that occur in the timing of certain payments when the fiscal year begins on a weekend. Without those adjustments, the deficit projected for 2024 is $1.5 trillion (or 5.3 percent of GDP).

The IRS FY 2024 budget request is $14.1 billion, $1.8 billion (about 15 percent) more than the FY 2023 Enacted level of $12.3 billion.

Senator Collins was a lead negotiator of the bipartisan legislation. Washington, D.C. – Today, by a vote of 75-22, the U.S. Senate passed the six-bill Fiscal Year 2024 (FY24) appropriations package.

What does fiscal year 2024 mean? ›

Fiscal year 2024 or "FY 2024" means the period beginning July 1, 2023, and ending June 30, 2024.

It is known as a continuing resolution (CR) and prevents a government shutdown that would otherwise occur if the FY2024 appropriations bills have not been enacted when the existing CR expires on November 17, 2023.

The Congressional Budget Office's February 2024 baseline for USDA Mandatory Farm Programs and the Supplemental Nutrition Assistance Program revealed projected outlays for farm bill-related programs at $1.46 trillion over the 10-year window from fiscal years 2025 to 2034 – down 3.5% from the previous 10-year baseline of ...

Interest on the U.S. national debt has grown so rapidly that it is now consuming nearly half of all individual personal income taxes.

BILL SUMMARY: Energy and Water Development Fiscal Year 2024 Appropriations Bill. Washington, D.C. – The Fiscal Year 2024 Energy and Water Development Appropriations Act provides $58.191 billion in total funding for the Department of Energy, Army Corps of Engineers, Bureau of Reclamation, and independent agencies.

Senator Collins was a lead negotiator of the bipartisan legislation. Washington, D.C. – Today, by a vote of 75-22, the U.S. Senate passed the six-bill Fiscal Year 2024 (FY24) appropriations package.

The President's FY 2024 budget request has been released. The CDC figure level is at a$11.581 billion request. The budget does not mention FDA's food safety efforts.