The Republican majority of the House Appropriations subcommittee having jurisdiction over Social Security has released its version of an appropriations bill covering Social Security for Fiscal Year (FY) 2025, which begins on October 1 of this year. It provides for a $13.8 billion appropriation for Social Security's administrative expenditures. This is below the $14.1 billion that the agency has been allocated for the current FY.
The President's proposed bill for FY 2025 contains $15.4 billion for Social Security.
This can't get passed without the agreement of the Senate and the White House. Also, nothing is likely to be passed until after the new Congress begins just after New Year's Day in 2025. The new Congress may have different opinions about this appropriations bill.
After last night, I think it’s safe to say we’ll get a CR this fall followed by even bigger funding cuts next year. But you won’t even notice amid the death spiral that comes next, if that’s any consolation.
ReplyDeleteIt was a nice 240 odd years, everyone. I thought the Constitution was well written enough to at least get us 500 years, but it‘s looking like I was very wrong: