- Temporary U.S. government funding set to expire on December 16.
- Congress and the White House at odds over billions for border management.
- The 2023 fiscal year sees the White House requesting a massive $4.865 billion for border initiatives.
With the U.S. government's funds nearing depletion, the temporary financial boost provided last September will run dry by December 16. And as Republicans gear up to take control of the House next January, they're pushing for a short-term financial plan rather than a full-year budget.
They believe this would grant them more power over the 2023 fiscal year's expenditure. Meanwhile, the White House is seeking billions to address the ongoing border issues.
The U.S. Constitution grants Congress the power to control the nation’s purse strings, primarily the House of Representatives. This means that the executive branch can't just dip into any extra funds unless Congress says it’s okay.
The budgetary journey starts with the president proposing a budget for the forthcoming fiscal year, usually by the first Monday in February. Congress then crafts its budget strategy, with set parameters for its spending. This blueprint should be ready by April 15, but often, it isn’t. Instead of passing individual appropriations, Congress typically bundles them into one major bill to ensure continuous funding.
Currently, as the provisional funding is about to lapse on December 16, Congress struggles to finalize its appropriations. Disagreements amounting to billions are keeping the two major parties at odds. Should they fail to reach a consensus, numerous federal agencies could be running on a shoestring budget for most of 2023, jeopardizing military preparedness and aid to Ukraine.
Topping it off, the White House has recently communicated its financial expectations for 2023. The border management budget, meant for ICE, CBP, and FEMA, currently sits at $1.383 billion. But, according to the administration, there's a need for a whopping $4.865 billion. This additional fund is mainly for managing the southwest border, covering border processing, transportation, removal, and humanitarian grants.
WOM Money Picks
Be a part of the winning team | 81% Success Rate.