Budget & Taxes

Department of Defense Appropriations Act, 2026 This bill provides FY2026 appropriations to the Department of Defense (DOD) for military activities. (The bill excludes military construction, military family housing, civil works projects of the Army Corps of Engineers, and nuclear warheads, which are all included in other appropriations bills.) Within the DOD budget, the bill provides appropriations for Military Personnel; Operation and Maintenance; Procurement; Research, Development, Test and Evaluation; and Revolving and Management Funds. The bill provides appropriations for Other Department of Defense Programs, including the Defense Health Program, Chemical Agents and Munitions Destruction, Drug Interdiction and Counter-Drug Activities, and the Office of the Inspector General. In addition, the bill provides appropriations for Related Agencies, including (1) the Central Intelligence Agency Retirement and Disability System Fund, and (2) the Intelligence Community Management Account. The bill also sets forth requirements and restrictions for using funds provided by this and other appropriations acts.

Rescissions Act of 2025 This act rescinds specified unobligated funds that were provided to the Department of State, the U.S. Agency for International Development (USAID), various independent and related agencies, and the Corporation for Public Broadcasting.  The rescissions were proposed by the President under procedures included in the Congressional Budget and Impoundment Control Act of 1974. Under current law, the President may propose rescissions to Congress using specified procedures, and the rescissions must be enacted into law to take effect.  Specifically, the act rescinds funds that were provided to the State Department or the President for Contributions to International Organizations; Contributions for International Peacekeeping Activities; Global Health Programs (excluding funds for programs addressing HIV/AIDS, tuberculosis, malaria, nutrition, or maternal and child health); Migration and Refugee Assistance; the Complex Crises Fund; the Democracy Fund; the Economic Support Fund (excluding funds for assistance to Jordan, Egypt, or the Countering PRC Influence Fund); Contributions to the Clean Technology Fund; International Organization and Programs; Development Assistance (excluding funds for Feed the Future Innovation Labs, the Countering PRC Influence Fund, or commodity-based food aid); Assistance for Europe, Eurasia, and Central Asia; International Disaster Assistance (excluding funds for commodity-based food aid); and Transition Initiatives. The act also rescinds funds that were provided for  USAID Operating Expenses, the Inter-American Foundation, the U.S. African Development Foundation, the U.S. Institute of Peace, and the Corporation for Public Broadcasting.

This concurrent resolution establishes the federal budget framework for fiscal years 2025 through 2034, setting specific targets for revenues, spending, and deficits across the decade. It projects federal revenues to increase from $3.4 trillion in 2025 to $5.4 trillion in 2034, with deficits ranging from $2.08 trillion to $2.12 trillion over the period. The resolution includes specific deficit reduction requirements for 11 congressional committees, such as a $880 billion target for the Energy and Commerce Committee to reduce deficits over the 10-year period. It also contains policy statements supporting economic growth through reduced spending, deregulation, and tax cuts. This resolution serves as the budgetary blueprint that Congress will use to guide spending decisions for the next decade.