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CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.
On Thursday, March 9, the President submitted a proposed Budget for Fiscal Year (FY) 2024. Presidents’ budgets often differ substantially from what will pass Congress, and this is especially true if the President’s party does not fully control Congress. However, these budgets are important indicators of policy priorities and the direction in which a President hopes to lead and campaign. The Budget includes increased spending for domestic programs, continues elevated defense spending levels associated with FY 2023 and the Ukraine war, and proposes significant tax increases for corporations and high-earning individuals. On net, the budget seeks to reduce cumulative deficits by about $3.0 trillion over the decade to 2033, from $21.6 trillion under current law to $18.6 trillion under its proposals.
BRIEF
Inflation Heads in Wrong Direction for Fed
April 26, 2024
BRIEF
US Economic Growth Cooled in Q1 2024
April 25, 2024
PRESS RELEASE
US Leading Economic Index® (LEI) Fell in March
April 18, 2024
BRIEF
March retail sales rose, but real Q1 spending was lackluster
April 15, 2024
BRIEF
CPI remained stubbornly elevated in March
April 10, 2024
BRIEF
Employment Report Poses Some Risk to Fed Cut Timing
April 05, 2024
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