1996 United States federal budget
| Submitted | February 6, 1995 |
|---|---|
| Submitted by | Bill Clinton |
| Submitted to | 104th Congress |
| Passed | October 3, 1995, through April 26, 1996 |
| Total revenue | $1.42 trillion (requested) $1.45 trillion (actual) 18.2% of GDP (actual) |
| Total expenditures | $1.61 trillion (requested) $1.56 trillion (actual) 19.6% of GDP (actual) |
| Deficit | $107.4 billion (actual) 1.3% of GDP (actual) |
| Debt | $5.181 trillion (at fiscal end) 64.9% of GDP |
| GDP | $7.978 trillion |
| Website | Office of Management and Budget |
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The 1996 United States federal budget is the United States federal budget to fund government operations for the fiscal year 1996, which was October 1995 – September 1996. This budget was the first to be submitted after the Republican Revolution in the 1994 midterm elections. Disagreements between Democratic President Bill Clinton and Republicans led by Speaker of the House Newt Gingrich led to the United States federal government shutdown of 1995 and 1996.
The requested budget was submitted by President Clinton on February 6, 1995, just five weeks after the beginning of the 104th United States Congress, which was dominated by Republicans to had been victorious in the November 1994 midterm election. Clinton's requested budget provided a middle-class tax cut, including new deductions for children and college expenses, which was offset by a twice-as-large reduction in spending elsewhere in the budget, echoing Speaker Gingrich's goal to eliminate programs that had outlived their usefulness. However, Republicans had demanded a budget that would lead to a balanced budget in 2002, but Clinton's budget projected annual deficits of around $190 billion up to 2005. Clinton's plan also proposed to abolish the Interstate Commerce Commission, and reorganize the Departments of Energy, Transportation, and Housing and Urban Development by consolidating programs into fewer, larger ones, as well as the Office of Personnel Management and the General Services Administration by cutting their staff by a third and a half, respectively.
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