European Union strikes deal on landmark budget, virus recovery fund
The 1.82 trillion-euro ($2.21 trillion) seven-year budget and recovery package is vital for virus-battered European economies. Hungary and Poland had threatened to veto it over a move to tie the use of EU funds to upholding the rule of law.
U.S. budget deficit hits all-time high of $3.1 trillion
The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic cut revenues and sent spending soaring.
House passes bipartisan $8.3 billion bill to battle novel coronavirus
The swift and sweeping bipartisan vote was a relative rarity in a polarized Washington and came just nine days after the president outlined a $2.5 billion plan that both President Donald Trump's GOP allies and Democratic critics said was insufficient.
White House is drafting a virus response budget request
The request is still being developed but is likely to come this week, a senior administration official confirmed Monday.
The White House wants to nearly double the total federal commitment to provide states with funds for career and technical education – from about US$1.2 billion in the current fiscal year to about $2.1 billion for fiscal 2021.
Tuesday’s legislation would avert a Thanksgiving government shutdown but opens the door to a possible shutdown just before Christmas.
The cost of running Guantanamo Bay’s prison and court system climbed by nearly $90 million from 2013 to 2018, even though the number of prisoners housed there has fallen. Amna Nawaz talks to The New York Times' Carol Rosenberg about…
Market borrowing for this budget year is projected to total $1.27 trillion, a 6.5% increase from the 2018 budget year.
Top leaders of both parties in Congress made better-than-expected progress Tuesday on two must-do items on the legislative agenda: averting automatic budget cuts and meeting a deadline later this year to increase the government's borrowing limit.
Additional Support Provided By:
