CQ Budget

With new warnings that the U.S. could run out of money to meet its obligations, Congress and the Trump administration are racing to raise the debt limit before lawmakers head home for August, says CQ Roll Call’s appropriations reporter Jennifer Shutt. And tax reporter Doug Sword explains how oil refiners could get up to a $10 billion windfall with an expired tax credit unless Congress intervenes.

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With only 25 days left with both the House and Senate in session before the new fiscal year begins, the Senate has yet to draft any of its 12 spending bills and has no plan in place to pass them. The result is likely another short-term stopgap funding measure as congressional leaders struggle to reach a bipartisan deal on overall spending limits. CQ Roll Call's chief budget reporter Paul M. Krawzak explains why Congress has reached this point.

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House Democrats passed the Financial Services spending bill that includes some controversial provisions, says CQ Roll Call's banking reporter Jim Saksa. Those include blocking money for a border wall, increasing funding to enforce sanctions on Iran, and allowing the District of Columbia to fund abortions.

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House Democrats are pushing new changes to the tax code aimed at helping low income individuals and families, with some lawmakers calling for an increase to the corporate tax rate. In this episode, CQ Roll Call's Doug Sword explains who stands to gain and lose.

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As White House and congressional leaders prepare for another meeting this week to get a bipartisan spending caps deal, CQ Roll Call's Paul M. Krawzak unpacks the political sticking points, the pros and cons of a one-year or two-year agreement, and other potential obstacles.

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House Democrats are packaging spending bills with the aim of completing all 12 by the end of the month, a goal that is likely to generate a lot of policy debates and amendments, explains Jennifer Shutt in this episode of the CQ Budget podcast. The first package contains five bills including the two largest, Defense and Labor-HHS-Education.

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In an usually candid interview with CQ Roll Call's budget reporter Paul Krawzak, the ex Congressional Budget Office director Keith Hall said the often secretive process the Republicans followed defeated their effort to repeal Obamacare in 2017. He also urged Congress to deal with the rising deficits that will fall on the backs of younger Americans, saying that in the coming decade 50 percent of federal funding will be spent on just 20 percent of the population — people who are 65 and older.

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House lawmakers on Tuesday again will try to clear a $19.1 billion disaster aid package via unanimous consent after Republican Rep. Chip Roy of Texas blocked it Friday for a variety of reasons; delaying much needed funds for states still recovering from natural disasters.

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House appropriators this week will take up the biggest of the 12 annual spending bills, the $690 billion Pentagon measure that includes some prickly issues such as funding for Taliban expenses for peace talks with the U.S. and money to give the Pentagon more F-35 fighter jets than it requested, says CQ Roll Call's senior defense reporter John M. Donnelly. He lays out what is likely to happen to the measure that assumes higher spending levels for fiscal 2020.

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Lawmakers are struggling to find agreement on an aid package to help states recover from natural disasters, says CQ Roll Call's budget and appropriations reporter Kellie Mejdrich. She lays out the issues preventing Congress from passing a disaster aid package.

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