2020 (2020) Budget of the United States federal government
SubmittedMarch 11, 2019
Submitted byDonald Trump
Submitted to116th Congress
Total revenue$3.420 trillion (actual)[1]
16.3% of GDP[1]
Total expenditures$6.552 trillion (actual)[1]
31.3% of GDP[1]
Deficit$3.132 trillion (actual)[1]
15.0% of GDP[1]
WebsiteBUDGET OF THE U.S. GOVERNMENT
‹ 2019
2021 ›

The United States federal budget for fiscal year 2020 ran from October 1, 2019 to September 30, 2020. The government was initially funded through a series of two temporary continuing resolutions. The final funding package was passed as two consolidated spending bills in December 2019, the Consolidated Appropriations Act, 2020 (H.R. 1158) and the Further Consolidated Appropriations Act, 2020 (H.R. 1865). A series of supplemental appropriations bills were passed beginning in March 2020 in response to the COVID-19 pandemic.

Budget proposals

The Trump administration's budget proposal was released on March 11, 2019.[2][3]

On August 1, 2019, the Bipartisan Budget Act of 2019 (H.R. 3877) was passed by the House. The next day, on August 2, 2019, the bill was passed by the Senate and signed into law by President Trump. This act increases spending by $320 billion over levels set in the Budget Control Act of 2011 and removes the possibility of budget sequestration.[4][5]

Appropriations legislation

On September 26, 2019, Congress passed the Continuing Appropriations Act, 2020, and Health Extenders Act of 2019 (H.R. 4378) which contained a continuing resolution lasting until November 21.[6][7] On November 21, Congress passed the Further Continuing Appropriations Act, 2020, and Further Health Extenders Act of 2019 (H.R. 3055) which extended temporary funding until December 20.[8]

A final appropriations deal was announced on December 16.[9][10][11][12] The appropriations legislation was divided into two bills: the Consolidated Appropriations Act, 2020 (H.R. 1158) contained the appropriations acts for Defense, Commerce–Justice–Science, Financial Services and General Government, and Homeland Security, while the Further Consolidated Appropriations Act, 2020 (H.R. 1865) contained the remaining acts.[13]

Supplemental appropriations were passed in response to the COVID-19 pandemic:

Major initiatives

Total revenue

Receipts

Receipts by Source – Actual

  Individual income tax (47.0%)
  Social Security/other payroll tax (38.3%)
  Corporate income tax (6.2%)
  Excise tax (2.5%)
  Estate and gift taxes (0.5%)
  Customs duties (2.0%)
  Miscellaneous receipts (3.4%)

Receipts by source: (in billions of dollars)

Source Actual [17]
Individual income tax $1,608.7
Corporate income tax $211.8
Social Security and other payroll tax $1,310.0
Excise tax $86.8
Estate and gift taxes $17.6
Customs duties $68.6
Other miscellaneous receipts $117.7
Total $3,421.2

See also

References

  1. 1 2 3 4 5 6 "JOINT STATEMENT OF JANET L. YELLEN, SECRETARY OF THE TREASURY, AND SHALANDA D. YOUNG, ACTING DIRECTOR OF THE OFFICE OF MANAGEMENT AND BUDGET, ON BUDGET RESULTS FOR FISCAL YEAR 2021". The New York Times. October 22, 2021. Retrieved November 15, 2021.
  2. ↑ Tankersley, Jim; Tackett, Michael (March 11, 2019). "Trump Proposes a Record $4.75 Trillion Budget". The New York Times. ISSN 0362-4331. Retrieved August 5, 2019.
  3. ↑ Rabinowitz, Kate; Uhrmacher, Kevin (March 12, 2019). "What Trump proposed in his 2020 budget". Washington Post. Retrieved August 5, 2019.
  4. ↑ Everett, Burgess; Bresnahan, John (August 1, 2019). "Senate passes massive 2-year budget deal". Politico. Retrieved August 2, 2019.
  5. ↑ Lejeune, Tristan (August 2, 2019). "Trump signs two-year budget deal". The Hill. Retrieved August 2, 2019.
  6. ↑ Carney, Jordain (September 26, 2019). "Senate passes stopgap spending bill, sending it to Trump". The Hill. Retrieved October 20, 2019.
  7. ↑ Ogrysko, Nicole (September 27, 2019). "Trump signs continuing resolution, averting government shutdown until Nov. 21". Federal News Network. Retrieved October 20, 2019.
  8. ↑ Werner, Erica (November 21, 2019). "Trump signs short-term spending bill just ahead of shutdown deadline". Washington Post. Retrieved December 2, 2019.
  9. 1 2 3 4 5 6 7 Scholtes, Jennifer; Emma, Caitlin (December 16, 2019). "Congress debuts $1.37T spending deal that sidesteps border fight". Politico. Retrieved December 19, 2019.
  10. 1 2 3 4 Grisales, Claudia (December 16, 2019). "From Border Security To Tobacco Age, Both Parties Tout Key Wins In Spending Deal". NPR. Retrieved December 19, 2019.
  11. 1 2 Mazmanian, Adam (December 16, 2019). "Spending bill includes 3.1% pay raise for feds -". FCW. Retrieved December 19, 2019.
  12. 1 2 Mervis, Jeffrey; Malakoff, David (December 16, 2019). "Final 2020 spending bill is kind to U.S. research". Science. Retrieved December 19, 2019.
  13. ↑ "Appropriations Status Table". crsreports.congress.gov. Retrieved December 19, 2019.
  14. ↑ Ackerman, Andrew; Wise, Lindsay (January 9, 2020). "A Reversal by Trump Revives Agency That Aids Exporters". WSJ. Retrieved June 16, 2020.
  15. ↑ "Ex-Im Bank gets seven-year extension". SpaceNews.com. December 21, 2019. Retrieved June 16, 2020.
  16. ↑ Hellmann, Jessie (December 16, 2019). "Congress reaches deal to fund gun violence research for first time in decades". The Hill. Retrieved December 19, 2019.
  17. ↑ "Budget of the U.S. Government - Fiscal Year 2022" (PDF). Budget of the U.S. Government - Fiscal Year 2022. United States Office of Management and Budget. Retrieved October 25, 2021.
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