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Obama Budget

Obama Budget Would Hike Tax Revenue, Cut Deficits

 President  Barack Obama 's fiscal 2015 budget request would boost U.S. tax revenues by nearly $1.4 trillion over 10 years if fully enacted, slashing deficits by $1.05 trillion while funding new spending, the  Congressional Budget Office  said on Thursday.There is virtually no chance that  Congress  will advance Obama's plan in its entirety. But the CBO's latest analysis will feed campaign messaging by both Democrats and Republicans ahead of congressional elections in November.The analysis compares Obama's request to a new "baseline" estimate that CBO released last week that assumes no changes to current tax and spending laws.But Obama's budget plan is loaded with new policy changes, including an assumption that sweeping immigration reforms are enacted, producing a net 10-year deficit reduction of $158 billion.It proposes to boost revenues by limiting tax breaks for wealthy Americans and businesses, imposing a new tax on millionaires, raising tobacco taxes, and restoring estate and gif...

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  1. Obama budget boosts embassy security spending, changes food aid

    President Barack Obama included $4 billion to improve security at hundreds of overseas diplomatic posts in his budget proposal on Wednesday, in the wake of the deadl...

  2. Obama Budget Would Increase Clean Energy Spending

    President Barack Obama proposed a dramatic increase in clean-energy spending on Wednesday as he sought to expand U.S. government support for electric cars, wind powe...

  3. Obama Budget Seeks New Spending to Address Gun Violence

    The Obama administration's fiscal 2014 budget proposes new spending in several areas to address gun violence following last December's school shootings in Newtown, C...

  4. Obama Budget Reduces Spending for Environmental Protection Agency

    The Obama administration's 2014 budget proposal for the Environmental Protection Agency totals $8.2 billion, or about 3.5% below the 2012 enacted level and almost 5%...

  5. Obama Budget Would Increase Spending on Renewable Energy

    Amid cuts elsewhere, the Obama administration's fiscal 2014 budget proposal called for boosting spending on renewable energy and energy efficiency research by about ...

  6. Lew: Obama Budget Not 'starting Point' For Talks

    President Barack Obama's budget plan for fiscal 2014 to be unveiled on Wednesday is not a "starting point" for negotiations with Republicans, Treasury Secretary Jack...

  7. Obama Budget to Include Changes Unpopular With Democrats

    President Barack Obama will include in his budget proposal next week a number of tax and spending changes, including new limits on the growth of Social Security bene...

  8. Sources: Wal-Mart Foundation's Burwell to be Nominated White House OMB Chief -Reuters

    U.S. President Barack Obama plans to nominate Sylvia Mathews Burwell to become the head of the White House's Office of Management and Budget, Reuters reports Sunday,...

  9. Schumer: Don’t Want to Play With Fiscal Cliff

    Steve Moore, WSJ senior economic writer and editorial board member, weighs in on the federal budget debate and Sen. Schumer’s comments on the fiscal cliff.

  10. McConnell Says Awaiting New Obama Budget Offer

    Senate Republican Leader Mitch McConnell said Thursday that he is awaiting a new White House proposal to avert the fiscal cliff. In a brief statement on the Senate f...

  11. GOP: Little Common Ground in Obama Budget

    Developing: U.S. House of Representatives Republican leaders on Monday called for $2.2 trillion in new deficit-reduction over 10 years in their latest effort to aver...

  12. The Future of ‘Obamanomics’

    Steve Bannon, producer of “The Undefeated,” on his views of the economy under President Obama.

  1. Will pent-up consumer demand drive stocks higher?

    Moody’s Capital Markets Chief Economist John Lonski on the markets.

  2. Debt rises in Obama budget ?

    Rep. Mike Pompeo says President Obama ’s budget will leave the U.S. begging for money down the road.

  3. Obama Budget Targets $5.3T in Savings

    President Barack Obama proposed new tax credits and job-training programs for U.S. workers on Tuesday in a 2015 budget that highlights stark differences with Republi...

  4. Obama Budget To Clamp Down On Corporate Tax Dodges

    President Barack Obama's budget for the next fiscal year will propose stiffer tax rules for U.S. companies with overseas operations, The Wall Street Journal reported...

  5. Obama : Budget Deal Must Boost Education Spending

    President Barack Obama on Friday urged Congressional negotiators to craft a budget deal that was "prudent" but also expanded spending on education and scientific res...

  6. Obama Budget's Impact on Small Business

    A look at what President Obama's $3.8 trillion budget plan translates into for small business.

  7. Lew: Budget Is 'serious Proposal At Serious Time'

    President Barack Obama's new $3.77 trillion budget "is a serious proposal at a serious time," said Treasury Secretary Jacob Lew on Thursday. "There is a path to a bi...

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