What Is In The Budget Agreement

Since the National Science Foundation and many other federal research agencies are on the non-defense side of the federal budget, the increases should translate into increases for research. This dissident faction of the Republican Party was in full force during the votes; the Freedom Caucus voted en masse against the budget deal. But this time, they didn`t have Trump`s ear. In the Senate, Senator Rand Paul (R-KY) was unable to gain enough support to pass an amendment to lower spending limits over the next decade and establish a balanced budget clause in the Constitution. The president sided with those in his administration who demanded a status quo. Pelosi and Treasury Secretary Steve Mnuchin negotiated the deal. However, $7.2 billion of the requested amount has been allocated as emergency funding for the construction of border walls. Revenues of $738 billion therefore range from the $743 billion for regular defense activities (including $2 billion in emergency funds for hurricane relief and recovery) in the fiscal 2020 claim and previously projected revenues of $733 billion for fiscal 2020 included in the government`s budget proposal for fiscal 2019. The need for budget caps dates back to 2011, when an Obama-era impasse on the debt ceiling nearly wreaked havoc on the U.S. economy.