February 25, 2025 The Federal Budget by Lynne Weikart Both Houses of Congress wrestle with passing a Budget Resolution - the financial goals for their budget, and their goals are deep cuts in Medicaid, which is health care for the poor. Congress refuses to discuss revenue; its focus is spending cuts. There are two sides to a budget - the revenue side and the spending side. Before cutting spending, why not examine what can be done on the revenue side? Congress avoids discussing revenue because it wishes to extend the Trump tax cuts that expire at the end of 2025. In FY2024, we collected $4.92 trillion in revenues. Republicans will not look at the revenues. Let’s look at the revenues. The expenditures were $6.752 trillion for a deficit of $1.83 trillion in FY2024. According to the Congressional Budget Office (CBO), permanently extending the expiring Trump tax cuts would cost $4 trillion over the next 10 years or $400 billion per year. That $400 trillion is m...