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US budget deficit totals $107.1 billion in August

US budget deficit totals $107.1 billion in August

The federal government recorded a deficit of USD 107.1 billion in August, slightly lower than the July deficit.

In final budget, Barack Obama proposes tax hike for wealthy Americans

In final budget, Barack Obama proposes tax hike for wealthy Americans

In his budgetary proposals running into 170 pages, Obama said the Department of Defence continues to develop its India ties through Defence Technology and Trade Initiative, Joint Working Group on Aircraft Carrier Technology Cooperation, and Jet Engine Technology Joint Working Group.

Barack Obama unveils election-tinged $4 trillion budget

Barack Obama unveils election-tinged $4 trillion budget

Barack Obama unveiled the last budget of his presidency Tuesday, a four-trillion-dollar plan that is dead-on-arrival in Congress but could shape the 2016 White House race.

GOP, Democrats, Obama reach accord on 2-year budget deal

GOP, Democrats, Obama reach accord on 2-year budget deal

The budget deal between congressional leaders and President Barack Obama, aimed at heading off a government shutdown and debt crisis, faces its first hurdle Tuesday when it goes before restive House Republicans, including rebellious arch-conservatives.

Obama's $4 trillion budget: Higher US spending, tax hike for rich

President Barack Obama`s 2016 budget unveiled Monday sets priorities for the middle class and proposes major infrastructure improvements, to be paid for largely through increased contributions by the wealthy and corporate America.

Barack Obama unveils $4 trillion US budget

Barack Obama unveils $4 trillion US budget

President Barack Obama has put forward a $4 trillion budget loaded with spending and tax reforms that will likely be dead on arrival at the Republican-controlled Congress.

Obama ties foreign profits tax to public works

US President Barack Obama's budget will propose an ambitious six-year, USD 478 billion public works program of highway, bridge and transit upgrades, half of it financed with a one-time mandatory tax on profits that US companies have amassed overseas, White House officials said.

Barack Obama proposes 14% tax on US Cos'  untaxed foreign earnings

Barack Obama proposes 14% tax on US Cos' untaxed foreign earnings

President Barack Obama`s fiscal 2016 budget would impose a one-time 14 percent tax on some $2 trillion of accumulated US corporate profits earned abroad and set up a 19 percent tax on future foreign earnings, a White House official said on Sunday.

US budget leaves IMF reforms in doubt

Crucial reforms of the International Monetary Fund were left hanging Wednesday after the US Congress failed to endorse them in the final budget legislation of the year.

US budget deficit shrinks to lowest level since 2008

The US government`s budget deficit for fiscal year 2014 shrank to its lowest level in six years as tax revenues rose amid a growing economy, the Treasury Department said Wednesday.

US budget deficit falls below 3% of GDP in 2014: CBO

The US budget deficit fell to 2.8 percent of the economy`s output in fiscal year 2014, as government revenues rose sharply, official data showed Wednesday.

US budget deficit to drop to 583 billion this year

The US government budget deficit in 2014 will come down to USD 583 billion, a drop of USD 100 billion over the previous year.

US records USD 71 billion budget surplus in June

The US government ran a monthly budget surplus in June, putting it on course to record the lowest annual deficit since 2008.

Obama 2015 budget seeks $60 billion tax credit expansion: White House

President Barack Obama will strike a firmly populist tone in his 2015 budget plan on Tuesday, proposing to pay for an expansion of a popular tax credit for the working poor by eliminating tax breaks claimed by wealthy Americans.

US Congress unveils $1 trillion spending bill

Negotiators from the US Senate and House of Representatives unveiled a USD 1 trillion spending bill, eliminating the threat of another government shutdown, at least until October.

US Congress won`t meet deadline for spending bill vote

The US Congress was poised on Monday to extend by three days a deadline set during the country`s autumn budget crisis to avoid another government shutdown.

Obama signs budget bill into law to avert govt shutdown

US President Barack Obama has signed a bipartisan federal budget bill, averting the risk of an embarrassing government shutdown for two years in the world's largest economy.

Obama signs bipartisan budget deal, annual defense bill

President Barack Obama on Thursday signed a compromise budget that reduces the risk of another government shutdown and a defense bill that cracks down on sexual assault in the military and smooths the path for transferring detainees from the US prison in Guantanamo Bay, Cuba.

US Senate passes budget deal, focus shifts to spending

The US Senate on Wednesday passed a two-year budget deal to ease automatic spending cuts and reduce the risk of another government shutdown, shifting the focus to a spending measure that Congress must pass by January 15.

US budget deal clears crucial test vote in Senate

A two-year US budget deal that eases some automatic spending cuts cleared a crucial Senate test vote on Tuesday, all but assuring its passage by a simple majority later this week in the Democratic-controlled Senate.