US Budget 2025-2034: Spending Cuts, Tax Relief, Benefit Protection
This budget resolution sets forth the U.S. government's budgetary levels for fiscal years 2025-2034. It targets a deficit reduction of at least $2 trillion through spending cuts (primarily mandatory and non-defense) and reforms. It anticipates a change in federal revenue levels, implying potential tax reductions, and an increase in the debt limit. The resolution emphasizes deregulation and protecting Social Security and Medicare from waste and fraud.
Key points
Recommended annual reduction in federal revenues of $150 billion for the years 2025-2034.
A target to reduce the deficit by at least $2 trillion over 10 years, including through mandatory spending cuts.
Instructions to increase the statutory debt limit by $4 trillion (House) or not more than $5 trillion (Senate).
A policy of economic deregulation to reduce bureaucracy and costs for businesses.
Establishment of reserve funds to protect Social Security, Medicare, and Medicaid programs from fraud and abuse.
VOTING RESULTS
2025-04-10
50%
For
216
Against
214
Abstain
0
Status:
Adopted
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