OP-ED: A looming budget conflict in the US - News Summed Up

OP-ED: A looming budget conflict in the US


In recent years, parliament has more or less accepted the budget and not been in disagreement with the government. The president submits a budget to Congress typically in February for the fiscal year starting in October. Mandatory items are usually linked to a trust fund; money goes into the trust fund from some tax or fee that Congress has legislated. If the trust fund gets too low, Congress will act to increase the funds flowing in or reduce the payments to be made out of the trust fund. Discretionary expenditures are all expenditures of the government that have to be approved (appropriated in budget language).


Source: Dhaka Tribune November 26, 2020 10:41 UTC



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