2005 United States federal budget
| Submitted | February 2, 2004 |
|---|---|
| Submitted by | George W. Bush |
| Submitted to | 108th Congress |
| Total revenue | $2.036 trillion (requested) $2.15 trillion (actual) 16.7% of GDP (actual) |
| Total expenditures | $2.4 trillion (requested) $2.47 trillion (actual) 19.2% of GDP (actual) |
| Deficit | $364 billion (requested) $318.3 billion (actual) 2.5% of GDP (actual) |
| Debt | $7.905 trillion (at fiscal end) 61.3% of GDP |
| GDP | $12.889 trillion |
| Website | Office of Management and Budget |
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The 2005 United States Federal Budget began as a proposal by President George W. Bush to fund government operations for October 1, 2004 – September 30, 2005. The requested budget was submitted to the 108th Congress on February 2, 2004.
• proposes increasing defense spending by 7%
• proposes increasing homeland security discretionary spending by 10%
• proposes $1.2 billion for rebuilding Afghanistan
• proposes over $5.7 billion in military and economic assistance to countries supporting the United States in the War on Terror
• proposes a 3.5% pay raise for military personnel
• proposes privatizing 90,000 military housing units by the end of 2005
• proposes a 20% increase for the Transportation Security Administration
• proposes a 9% increase for the Coast Guard
• proposes doubling the level of first responder preparedness grants targeted to high-threat areas
• proposes a 180% in funds for a new agriculture and food defense initiative
• proposes $274 million for a new biosurveillance initiative
• proposes an 11% increase for the FBI, including a $357 million increase for counterterrorism activities
• proposes holding discretionary spending growth to below four percent, and non-security related spending to 0.5 percent, less than the rate of inflation
• proposes extending the tax cuts enacted in 2001 and 2003
• proposes new initiatives for tax-favored savings and retirement accounts for all Americans
• proposes a new $250 million grant program for community colleges
• proposes $333 million to help students make the transition from high school to college
• proposes more than $20 billion in small business lending and equity programs
• proposes a 10% increase in funding for the SEC
• proposes increasing Title I funding by $1 billion, 52% more than in 2001
• proposes $1 billion more for Special Education, a 75% increase since 2001
• proposes a 12% increase for early reading programs
• proposes increasing Pell Grants by $856 million
• proposes to increase funding for Historically Black Colleges and Universities and minority-serving institutions by 30%
• proposes raising loan limits for first-year students, expanding options to offer courses on-line, and increasing loan forgiveness for those teaching certain subjects in high-poverty schools
• proposes $237 million to develop the world’s first "zero-emissions" coal-fueled power plant
• proposes a 44% increase for hydrogen and fuel cell R&D
• proposes $58 million more for removing excess wood and brush that fuel fires (Healthy Forests Initiative)
• proposes $65 million for an expanded diesel school bus retrofit program to reduce harmful bus emissions
• proposes $45 million, nearly a 500% increase, for Great Lakes clean-up
• proposes increasing Superfund long-term cleanups by $124 million (nearly a 50-percent increase).
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