WASHINGTON (Reuters) — The U.S. Congress on Thursday averted a government shutdown just one day before federal funding was due to expire, sending President Donald Trump a bill to provide just enough money to keep agencies operating through Jan. 19.
The Tax Cuts and Jobs Act proposed by both the House and the Senate will pay for itself by generating higher economic growth, according to an analysis from the Tax Foundation.
WASHINGTON (Reuters) — U.S. President Donald Trump has signed legislation to fund the federal government for two more weeks, White House spokeswoman Sarah Sanders said on Friday, a move that averts a government shutdown while Congress negotiated a longer-term budget deal.
The federal government collected approximately $235 billion in taxes in the first month of fiscal year 2018, but the government still ran a $63 billion deficit during that time, according to the latest monthly Treasury Department statement.
Today, the House of Representatives passed the Building A Better America 2018 budget in a 219 to 206 vote.
If Congress were to cut unnecessary and wasteful spending in the federal government, it could balance the budget in three years based on recommendations by Citizens Against Government Waste, a nonpartisan organization.
The federal government collected $2.74 trillion in taxes in the first 10 months of fiscal year 2017, but the federal government still ran a $566 billion deficit during that time, according to the latest monthly Treasury Department statement.
The cost of earmarks totaled $6.8 billion in fiscal year 2017, up 33.3 percent from the previous year, according to Citizens Against Government Waste’s 2017 Congressional Pig Book.