US Budget Plan 2025–2034: Deficit Reduction in Education and Debt Increase
This budget resolution establishes the financial framework for the US government for fiscal years 2025–2034, projecting an increase in debt subject to limit. It includes instructions for Congressional committees mandating deficit reduction in areas under the jurisdiction of the Committee on Education and the Workforce, among others, while allowing for deficit increases within the jurisdiction of defense and homeland security committees. The policy aims to return federal spending to pre-pandemic levels, while protecting Medicare and Social Security.
Key points
Deficit reduction in education: The Committee on Education and the Workforce is required to submit changes in laws to reduce the deficit by at least $246.8 billion over the 2025–2034 period.
Deficit increase for security: The resolution allows for deficit increases of $50 billion for the Committee on Homeland Security and $50 billion for the Committee on the Judiciary over the 2025–2028 period.
Debt limit increase: The Committee on Ways and Means is instructed to submit changes raising the statutory debt limit by $4 trillion.
Public debt growth: Debt subject to limit is projected to rise from approximately $37.1 trillion in 2025 to over $56 trillion by 2034.
Status:
Introduced
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