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The vice president called the report, which shows how Trump’s spending plan will exacerbate the wealth gap, “very atrocious.”
During a Thursday visit to Georgia, a reporter with Atlanta News First asked the vice president to justify the fact that, according to a new report from the nonpartisan Congressional Budget Office, Trump’s spending plan will exacerbate the wealth gap.Last month, when Vance was rallying for the bill’s passage, he described its impact on the federal budget (as measured by the CBO) and its historic cuts to the social safety net (“the minutiae of the Medicaid policy,” as he put it) as “immaterial,” in light of the billions it puts toward Trump’s draconian immigration agenda.The massive restructuring would also refocus the National Counterproliferation and Biosecurity Center and the Cyber Threat Intelligence Integration Center. Gabbard has announced plans to cut her department’s staff by 50 percent and reduce its annual budget by $700 million.On Monday, Attorney General Pam Bondi announced that the administration had made nearly 400 arrests in Washington since the beginning of the operation. At least 160 of those arrests were undocumented immigrants, reported ABC News.
Trump and his administration plan ... budget to levels not seen since the Reagan administration. About half that amount would be stripped from state revolving loan programs that fund drinking water and wastewater projects. In Nevada the proposed cuts could result in the loss of more than $16 million for state revolving loan programs, according to a report from EDF Action, ...
Trump and his administration plan to cut the EPA’s budget next year by $4.9 billion, a nearly 55% decrease that would reduce the agency’s budget to levels not seen since the Reagan administration. About half that amount would be stripped from state revolving loan programs that fund drinking water and wastewater projects. In Nevada the proposed cuts could result in the loss of more than $16 million for state revolving loan programs, according to a report from EDF Action, the advocacy arm of the Environmental Defense Fund.Nevada would lose millions of dollars in funding for water infrastructure and clean air programs under President Donald Trump’s proposal to cut the Environmental Protection Agency’s budget by more than half.Trump’s plan to cut the EPA’s budget by more than half would also eliminate the Diesel Emissions Reduction Act (DERA) Program, which provides the state funding to replace older vehicles with newer cleaner engines that reduce air pollution in the state.
A budgeting report is a report managers use that lists the previously estimated budget projections over a certain period. It's typically used to compare the budget estimations with the actual results the company achieved during the designated time period. Budget reports are mainly the financial ...
Building a budget report is a great way to make accurate and informed financial decisions for a company. When you create budget projections, you're typically creating financial goals for the company to meet. Once you hit a certain accounting period, you can use a financial report to compare these milestones with the results to determine the success of the previous period.A budgeting report is a report managers use that lists the previously estimated budget projections over a certain period. It's typically used to compare the budget estimations with the actual results the company achieved during the designated time period. Budget reports are mainly the financial goals leadership comes up with based on informed financial projections.When accounting employees receive the financial report, they'll compare these results with the budget report they prepared before the start of the specific accounting period.Budget reports typically serve as the company's financial goals. If a financial report doesn't reach the goals projected in the budget report, employees can easily determine which problems are keeping them from hitting these goals by comparing the two reports.To ensure you make informed and accurate predictions for the upcoming period, it's important to understand the key differences between the two reports. Some differences between budget and financial reports include: Team members create budget reports typically before a certain period to predict and set goals for the company's finances.
The assessment, conducted by the Congressional Budget Office (CBO) at the request of top Democrats, found that the top 10 percent of earners in the country will see an average boost of $13,600 per year over the next decade as a direct result of provisions in the law, while the bottom 10 percent will see an average annual decrease of $1,200. · The report ...
The assessment, conducted by the Congressional Budget Office (CBO) at the request of top Democrats, found that the top 10 percent of earners in the country will see an average boost of $13,600 per year over the next decade as a direct result of provisions in the law, while the bottom 10 percent will see an average annual decrease of $1,200. · The report challenges the arguments made by President Trump and other Republicans that the massive domestic policy package would benefit workers at all levels of wealth and income.“They just confirmed Trump is enriching his billionaire friends at the expense of American families,” Rep. Brendan Boyle (Pa.), the senior Democrat on the House Budget Committee, posted Monday on social platform X after the CBO report was released.The Republican tax bill will worsen income inequality, benefiting the wealthy while harming the poor, according to a Congressional Budget Office analysis.The Republicans’ “big, beautiful bill” will make the poorest Americans even poorer, while padding the wallets of the highest earners the most, according to an analysis released Monday by Congr…
Here are the top ten spending categories for the federal budget. A new report outlines ways to find cost savings by reducing overlap, duplication, and fragmentation across the federal government.
A selection of key charts that give an overview of the major components in the U.S. federal budget.To cover any shortfalls between revenues and spending, the government issues debt. The underlying structural mismatch between revenues and spending is the primary driver of growing deficits in the future, posing significant challenges for our budget as well as our political system.Learn about the budget, how it’s created, and how we can fix our budgeting process.The U.S. Budget
As counties continue implementing RTA through programming and staffing, State spending may continue to increase. Read Report ... The Enacted Budget for State Fiscal Year 2025-26 is projected to total $254 billion, a 5.2% increase in spending at a time when new federal actions on funding and ...
State Comptroller DiNapoli provides independent monitoring, oversight and analysis of the State's fiscal position. He regularly issues reports on budget and policy issues, economic trends, and financial reports.The gap is up $7 billion since the January release of the Fiscal Year 2026 Executive Budget Financial Plan, and is attributable to downward revisions to the economic forecast and projected revenues, as well as increases in projected spending. When the projected costs of the federal reconciliation bill are added, the gaps as a share of spending are comparable to gap levels last seen in April 2009 during the Global Financial Crisis. Read ReportAs counties continue implementing RTA through programming and staffing, State spending may continue to increase. Read Report ... The Enacted Budget for State Fiscal Year 2025-26 is projected to total $254 billion, a 5.2% increase in spending at a time when new federal actions on funding and policy may change the relationship between the federal government and states.Federal funding represents more than 1 in 3 dollars in the State’s budget. Federal reductions will have real impacts on the people in the State, whether it is the food or medical care they can afford or even the level of care that hospitals provide. View Report
Master the art of deciphering budget reports to uncover key financial insights and assess performance effectively.
A budget report is a financial tool that offers a snapshot of an entity’s financial standing over a specific period. It serves as a fundamental instrument for financial oversight, allowing for the evaluation of past financial activities and the planning of future ones.This report provides clarity on how financial resources are being utilized and helps in maintaining fiscal discipline. It is a structured document that supports informed decision-making regarding an organization’s financial health. A typical budget report presents a comparison between planned financial figures and actual financial outcomes for a defined period, such as a month, quarter, or year.The report’s structure often includes several standard columns. These usually consist of a “Budgeted Amount” column, which displays the financial figures that were originally planned. Alongside this is an “Actual Amount” column, showing the real financial performance.The report then leads to “Net Income” or “Net Loss.” This figure, also known as surplus or deficit, is derived by subtracting total expenses from total revenues. A positive result indicates net income or a surplus, meaning more money was earned than spent. Conversely, a negative result signifies a net loss or a deficit. The concept of “Actual vs. Budget” compares what was planned for a period against what truly occurred, highlighting whether financial activities aligned with initial projections.
The Daily Line (TDL) is an essential news source for professionals whose work intersects Chicago’s City Hall, Cook County Government and the State of Illinois. Our detailed newsletters, published every weekday, provide critical details and key insights on the decisions made by Chicago’s, ...
Budget reporting is the comparison, analysis, and documentation of the current company's financial performance against the projected budget.
To help you gain a better understanding of how to use budget reports for your business, here are the top eight types, their advantages, and drawbacks. Traditional/ incremental budgeting Traditional budgeting uses your previous budgets as a starting point and then adds increments to reflect important developments.This budget reporting method lets companies home in on aligning spending with long-term objectives. At the same time, it can be difficult to accurately assign value to each item. Rolling forecasts Rolling forecasts let you update your budget continuously, whether monthly or quarterly.If you're having trouble determining whether your company's budget is appropriately allocated, a budget report may be just what you need. But it's essential to follow certain steps to avoid missing critical data. In this section, we'll walk you through the process of creating a budget report, step-by-step.You should include these expenses in your reporting. Some of those costs may include: Departmental expenses: Departmental expenses refer to specific costs incurred by departments within the company. Since each department has its own priorities and goals, budget allocation will vary.
Budget reports pull data for the entire project and give you a complete overview of the project status.
Budget reports include time entries for projects outside the report's time frame. Budget reports always show the total budgets for projects that have any data within the time range you have selected. This is intentional, as budget reports are designed to give you a holistic, high-level overview of how your projects are tracking against their entire time/fee budget.Select Run Report. The projects visible vary by permission level. For example, Project Editors can only see projects they own. ... If your organization has a Business or Enterprise Smartsheet plan and uses Smartsheet authentication, then you can further analyze and share the data from your budget report in Smartsheet.Budget reports show how much time or money has been incurred on a project and how much remains.You can view a budget report in hours, days, or amounts.
Data Management for Financial Resources (DMFR) partners with A&F departments across campus to offer employee training on a variety of topics. Our training classes are designed for beginners, intermediate and advanced users to make them more effective in their home departments.
Learn the definitions of actual reports and budget reports, and review the features and differences in a budget vs. actual report, like planning and variance.
Companies can use different financial reports and information when reviewing their business performance and planning for growth. One common way to do this is to record budget information side by side with actual expenses to adjust their expectations and strategies.This document includes the specific amounts that companies spent or earned during this period. Actual reports often include various sources of income, cost of goods sold, expenses like wages or rent, profit and any other figure a company may hope to record. A budget report is a financial document prepared prior to a financial period.Companies may have separate reports for recording budget figures and actual amounts after they occur. Often, they combine the two in an actual vs. budget report. With this, they can list their line items in rows and compare data in different columns. Here are some ways that companies may use an actual vs.Budget vs. actual reports are key in planning for an organization's future. Budgets use information like the previous year's earnings and cost to estimate how much they might need for future accounting periods. During this process, they may perform market research to see if the cost of goods has changed or if sales are trending upward to adjust their estimates.
Trump and his administration plan ... budget to levels not seen since the Reagan administration. About half that amount would be stripped from state revolving loan programs that fund drinking water and wastewater projects. In Nevada the proposed cuts could result in the loss of more than $16 million for state revolving loan programs, according to a report from EDF Action, ...
Trump and his administration plan to cut the EPA’s budget next year by $4.9 billion, a nearly 55% decrease that would reduce the agency’s budget to levels not seen since the Reagan administration. About half that amount would be stripped from state revolving loan programs that fund drinking water and wastewater projects. In Nevada the proposed cuts could result in the loss of more than $16 million for state revolving loan programs, according to a report from EDF Action, the advocacy arm of the Environmental Defense Fund.Nevada would lose millions of dollars in funding for water infrastructure and clean air programs under President Donald Trump’s proposal to cut the Environmental Protection Agency’s budget by more than half.Trump’s plan to cut the EPA’s budget by more than half would also eliminate the Diesel Emissions Reduction Act (DERA) Program, which provides the state funding to replace older vehicles with newer cleaner engines that reduce air pollution in the state.
At face value, budgeting might seem like a mundane, unimportant task, but it's absolutely vital to business operation and strategy...
A budgeting report (or budget report) allows you to compare your actual revenue and spending to your planned (i.e. budgeted) revenue and spending over a given period of time. Budget reports are organized in two columns.Comparing your budget to actuals helps to create accountability by ensuring you're keeping regular track of spending and revenue goals. This can help you prevent unnecessary spending while also helping you stay on top of your revenue goals and projections. As a result, budget reporting should also help to improve cash flow management in your business.Your budget represents the financial strategy that you designed to support your business plan. By closely monitoring your budget vs. actuals with budget reports, you can identify variances and make corrections before minor deviations become major problems.It's useful to have thought through each of these scenarios because it'll help you be more flexible and to think on your feet as you encounter budget variances throughout the year. Read More: Financial Reports vs.
The federal budget deficit totaled $2.0 trillion in the first 11 months of fiscal year 2025, CBO estimates. That amount is $92 billion more than the deficit recorded during the same period last fiscal year. Report · August 25, 2025 · CBO provides information about the effects of P.L.
Report · September 9, 2025 · CBO examines drug purchases made through the 340B program in 2021, growth in such purchases from 2010 to 2021, and factors that contributed to that growth. CBO also assesses how the 340B program affects the federal budget. Report · September 9, 2025 ·The federal budget deficit totaled $2.0 trillion in the first 11 months of fiscal year 2025, CBO estimates. That amount is $92 billion more than the deficit recorded during the same period last fiscal year. Report · August 25, 2025 · CBO provides information about the effects of P.L.The federal budget deficit totaled $1.6 trillion in the first 10 months of fiscal year 2025, CBO estimates.CBO examined the economic and budgetary effects of two illustrative scenarios in which federal funding for nondefense research and development is increased by $30 billion per year for the next 10 years.
A new budget report from the Idaho Legislature shows the state of Idaho is projected to end the current fiscal year 2026 with a budget deficit of nearly $80 million, which would violate the Idaho Constitution.
According to the FY26 General Fund Budget Monitor for August, “After accounting for updated revenue projections, the projected ending balance is negative $79.9 million.” · Idaho runs on a fiscal year calendar that begins July 1 and ends June 30. That means the state is only about six weeks into the current fiscal year, and the new report reflects the first month of revenue activity in fiscal year 2026.Brad Little reduced revenue that would have been available in the state budget by more than $450 million to pay for tax cuts and a new tax credit that reimburses families for education expenses, including tuition at private religious schools. During a breakfast with the press corps in February, Little told reporters he was “not very happy about” the magnitude of revenue reductions the Idaho Legislature put forward this year.If the latest revenue projections hold and no other steps are taken, Idaho would fall short of that balanced-budget requirement, the state’s top budget official told the Idaho Capital Sun on Thursday. Division of Financial Managment Administrator Lori Wolff answers questions from reporters at a press conference before the annual State of the State address on Jan.If everything else in the August budget projections hold up and there are $0 in fiscal year 2026 supplemental funding requests, the 3% holdbacks would give Idaho a narrow $6.2 million cushion between a budget surplus and a budget deficit at the end of the current fiscal year. Idaho has more than $1 billion in rainy day reserve funds in the bank. According to the Idaho Legislature’s 2025 Sine Die Report, the state’s primary rainy day account had a balance of over $880 million, while the Public Education Stabilization Fund had a balance of about $265 million.
Status Report of U.S. Treasury-Owned Gold ... U.S. Debit Card ... The Monthly Treasury Statement summarizes the financial activities of the federal government and off-budget federal entities and conforms to the Budget of the U.S.
The annual Economic Survey is usually presented a day before the presentation of the annual budget and it serves as the official report of the economy. The survey’s outlook serves as a marker about future policy moves. The Economic Survey is authored by the Chief Economic Adviser in the finance ...
The annual Economic Survey is usually presented a day before the presentation of the annual budget and it serves as the official report of the economy. The survey’s outlook serves as a marker about future policy moves. The Economic Survey is authored by the Chief Economic Adviser in the finance ministry and his team.Budget 2025: Find all the India Budget 2025-26 Announcements, Budget Key Highlights, Budget 2025 expectations, income tax slabs and more in FM Nirmala Sitharaman Budget Speech only at MoneycontrolFiscal deficit broadly represents the amount of money that the government has to borrow every year to meet its expenses. In budget accounting parlance, it represents the difference between government’s total revenue receipts (tax and non-tax) and capital receipts such as recoveries and interests earned on loans given to state governments.Union Budget 2025: In her eighth Union Budget on February 1, finance minister Nirmala Sitharaman gave much-needed tax relief to the middle class in the new tax regime with an aim to boost consumption and lift the animal spirits of the economy.
Nobody should be too excited and think this means our country is headed toward lower deficits - especially when the administration recently signed one of the most expensive budget reconciliation bills in history.
On paper, this might look like the government became more efficient and budget conscious, but these are just common peaks and troughs of the federal budget calendar. The June Treasury statement is quirky for a few reasons. First, as stated in a highlight box at the beginning of the report, many payments that would have typically been made on June 1 were instead made at the end of May because June 1 fell on a non-business day.But nobody should be too excited and think this means our country is headed toward lower deficits – especially when the administration recently signed one of the most expensive budget reconciliation bills in history.The administration points to the surplus as a sign of “fiscal sanity” and “fair trade” stemming from its disorderly tariff policy. In reality, the surplus was largely due to quirks in the annual budget.While the administration touts this misleading figure to suggest they are closing the budget gap, it’s important to keep perspective on the megabill President Trump just signed into law. It is one of the costliest budget reconciliation bills in history, providing trillions in tax cuts over the next decade.
Treasury’s key budget and performance reports provide Congress, the President, and the American people detailed information about Treasury's stewardship over its financial resources and progress in reaching its goals.Key budget and performance documents are:The Congressional Justification ...
About Key Budget and Performance DocumentsTreasury publishes its annual performance plan and report as a part of its congressional budget justification, which includes the high-level results from its internal strategic reviews. Treasury’s key budget and performance reports provide Congress, the President, and the American people detailed information about Treasury's stewardship over its financial resources and progress in reaching its goals.Key budget and performance documents are:The Congressional Justification of Appropriations (CJ) reflects the President’s Budget request for the Department of the Treasury and is prepared in accordance with OMB Circular A-11.The Congressional Justification of Appropriations (CJ) reflects the President’s Budget request for the Department of the Treasury and is prepared in accordance with OMB Circular A-11. The CJ includes agency priorities, requested budget levels, and performance plans and reports (in accordance with GPRAMA).The Budget-in-Brief (BIB) summarizes the CJ. The Treasury Performance Validation and Verification Appendix provides a detailed listing of all performance measures and indicators included in Treasury’s Annual Performance Report (APR) with their respective definitions, data sources, data collection methodologies, assessments of reliability, and reporting frequency.For information about the President's Budget, please visit the Office of Management and Budget's webpage.