Federal Budget Funding 3-12-25

The Continuing Resolution will fund the Government through September 2025 at current levels and make the 2017 Trump Tax Cuts permanent. The next Federal Budget will begin in October 2025 and will fund the Government through September 2026. It will include further Tax Cuts that will take effect for the 2026 tax year. This includes the reduction of the Corporate Tax from 21% to 15% and no tax on Tips and no Tax on Social Security. The lower corporate tax will give US companies enough relief to ease prices and encourage re-shoring of manufacturing back to the US. The global price of oil has decreased from $70 per barrel to $66 per barrel. This will continue as the US increases oil production to lower the cost of transporting food and other goods. 

The 2026 Tax year will include a balanced budget. The lower tax rates will increase Federal Revenue. In 2024, US Federal Revenue was $4.92 trillion and spending was $7 trillion. In 2026, revenue and spending is expected to match around $5.5 trillion.

Paying down the $36.5 trillion National Debt with Tariff revenue at 2% should yield $0.73 trillion in savings allowing the US to reduce the National Debt to $35.5 trillion in 2026. Continuing Tariff revenue at 2% should yield $0.71 trillion in savings allowing the US to reduce the National Debt to $34.79 in 2027. Continuing Tariff revenue at 2% should yield $0.696 trillion in savings allowing the US to reduce the National Debt to $34.09 in 2028.

Re-shoring manufacturing from 2026 to 2028 will add millions of manufacturing and engineering jobs to the US economy and restore the middle class. Unleashing mining, forestry and water supplies in the US will add to jobs in Western States and end the California wild-fire problem. Completing the US oil and gas pipeline system will allow the US to lower transportation costs to keep energy prices low. Exporting oil and natural gas will reduce the $1 trillion US Trade Deficit.

Continuing the Trump Agenda will reduce the $1 trillion Annual Debt Interest Cost in the Federal Budget.

Restoring Education to ensure that US k-12 students can read, write, do math at grade level and assess their Motivated Abilities will be established by the States.  Colleges should emphasize Occupational Degrees. Student loans should not be government funded.

Norb Leahy, Dunwoody GA Tea Party Leader