Republicans in the US House of Representatives announced a draft law for temporary financing for a period of 6 months to avoid the government’s possible closure on the 14th of this month, and under the draft law -which President Donald Trump supports -the government will obtain funding until the end of next September, i.e. the end of the current US fiscal year.
Representatives are expected to vote on the draft law next Tuesday in the majority council from the Republican Party to which Trump belongs.
But the project faces an obstacle to the Senate, which will be presented later, as it needs to pass it to at least 7 votes from the opposition Democratic Party.
Historically, none of the two parties showed a desire for government closure. If the bill fails in either of the two chambers (deputies and elders), Congress is likely to pass a temporary bill to purchase more time to reach a compromise.
Trump had called on Republican lawmakers to pass the draft law, warning them not to allow “opposition” in their ranks.
“I ask all of you to give us a few months so that we can continue to arrange the” financial situation “of the country,” Trump said on the Truth Social website.
The United States has witnessed 14 government closures since the early eighties of the last century, the last of which cost the economy $ 3 billion and extended for 35 days.
Below Information about the American budget 2024 (According to the US Treasury):
- Total Federal Government Expenses: 6.75 trillion dollars
- Total government revenue: 4.92 trillion dollars
- The gap between revenues and expenses: $ 1.83 trillion
- Budget deficit from GDP: 6.4%
Government spending includes two categories:
Mint spending, which includes social programs and benefits on debt and constitutes 74% of the budget. The estimated spending includes defense and non -defensive programs such as housing, education and transportation.
The following are the most prominent terms of spending in the American government budget for the year 2024 (according to the US Treasury):
- Social Security Expenditure: $ 1.45
- Health programs “Medicir” and “Midikid” combined: 1.49 trillion dollars
- Total benefits of public debt: 950 billion dollars
- Total defensive spending: $ 850 billion
- Total non -defensive spending: 950 billion dollars
- Advantages of old warriors: 139 billion dollars
- Transport spending: 128 billion dollars
- Education, training and social services: $ 117 billion
