US budget News

The top three outlays for the nine months, from October to June, were $780 billion on social security, $512 billion on national defence, and $485 billion on medicare, according to data from the Monthly Treasury Statement released on Thursday.

The U.S. Senate approved a budget deal including a stopgap government funding bill early on Friday, but it was too late to prevent a federal shutdown that was already underway in an embarrassing setback for the Republican-controlled Congress.

President Donald Trump`s budget proposal to be unveiled on Monday will include a request for $3 billion as a down payment on building a wall along the U.S. border with Mexico, a senior administration official said on Thursday.

President Donald Trump's drive to overhaul the US tax code cleared a critical hurdle on Thursday when the Senate approved a budget blueprint for the 2018 fiscal year that will pave the way for Republicans to pursue a tax-cut package without Democratic support.

US President Donald Trump is aiming to balance the federal budget in a decade with substantial cuts to safety-net programmes, combined with a tax overhaul to speed up the economy and achieve an ambitious growth rate of three per cent, the White House has said.

President Donald Trump`s proposed 28 percent budget cut for U.S. diplomacy and foreign aid next year would preserve $3.1 billion in security aid to Israel but reduce funding for the United Nations, climate change and cultural exchange programs.

The federal government recorded a deficit of USD 107.1 billion in August, slightly lower than the July deficit.

In his budgetary proposals running into 170 pages, Obama said the Department of Defence continues to develop its India ties through Defence Technology and Trade Initiative, Joint Working Group on Aircraft Carrier Technology Cooperation, and Jet Engine Technology Joint Working Group.

Barack Obama unveiled the last budget of his presidency Tuesday, a four-trillion-dollar plan that is dead-on-arrival in Congress but could shape the 2016 White House race.

The budget deal between congressional leaders and President Barack Obama, aimed at heading off a government shutdown and debt crisis, faces its first hurdle Tuesday when it goes before restive House Republicans, including rebellious arch-conservatives.

President Barack Obama`s 2016 budget unveiled Monday sets priorities for the middle class and proposes major infrastructure improvements, to be paid for largely through increased contributions by the wealthy and corporate America.

President Barack Obama has put forward a $4 trillion budget loaded with spending and tax reforms that will likely be dead on arrival at the Republican-controlled Congress.

US President Barack Obama's budget will propose an ambitious six-year, USD 478 billion public works program of highway, bridge and transit upgrades, half of it financed with a one-time mandatory tax on profits that US companies have amassed overseas, White House officials said.

President Barack Obama`s fiscal 2016 budget would impose a one-time 14 percent tax on some $2 trillion of accumulated US corporate profits earned abroad and set up a 19 percent tax on future foreign earnings, a White House official said on Sunday.

Crucial reforms of the International Monetary Fund were left hanging Wednesday after the US Congress failed to endorse them in the final budget legislation of the year.

The US government`s budget deficit for fiscal year 2014 shrank to its lowest level in six years as tax revenues rose amid a growing economy, the Treasury Department said Wednesday.

The US budget deficit fell to 2.8 percent of the economy`s output in fiscal year 2014, as government revenues rose sharply, official data showed Wednesday.

The US government budget deficit in 2014 will come down to USD 583 billion, a drop of USD 100 billion over the previous year.