The Latest Breaking News from Federal Budget

In fiscal year 2023, federal spending remained higher than before the pandemic.

In 2023, the US government brought in $4.47 trillion and spent $6.16 trillion.

The Congressional Budget Office said Tuesday that it projects a federal budget deficit increase of $400 billion or 27% this year, from its last budget outlook released in February

The Australian mining industry was promised billions of dollars in last week’s federal budget to boost critical minerals such as lithium, copper and rare earth metals. This includes tax incentives, an innovation fund and money for Geoscience Australia to map these resources.

Last week’s federal budget committed A$12.5 million over four years to deliver tampons, pads and other period care products to people who menstruate in rural and remote Indigenous communities.

Production tax incentives unveiled in the federal budget are expected to benefit places like Gladstone and help them secure a spot in the net zero economy.

Leading music organisations have praised the federal budget for its investment in the live music sector.

The 2024 federal budget contains A$110 million for Indigenous education. This includes funding for various different organisations to represent and help Indigenous people as well as scholarships in a bid to close the gap between Indigenous and non-Indigenous learning and achievement.

Federal budget leaves country and regional councils, and their ratepayers, begging again