Last week, President Obama submitted his 2016 budget request to Congress. According to the budget process, after consideration and analysis of this budget request, the US House and Senate will issue budget resolutions by April 1.
In the 2016 budget, the President lifts these spending levels, increasing funding for many programs that support local governments, while reducing funding in a couple of notable areas, as reported in Governing. The article describes,
President Barack Obama’s record $4 trillion proposed budget would provide boons to states and localities in a host of areas, from infrastructure to education, but the White House’s spending plan again includes cuts or limits to popular programs such as community development block grants.
The White House budget estimates that federal grants to state and local governments will total $652 billion in 2016, representing a 13 percent increase from 2014, according to Governing. The article profiles changes in transportation spending, new matching programs, and increases in funding for health, education, police and research. It also describes portions of the budget that will negatively effect county and municipal governments, including reducing the tax-exemption on municipal bonds.
For more information, read the full story from Governing here.
For more information about the tax exemption on municipal bonds, see previous posts on Conduit Street here.
You may read the President’s complete budget request here.