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Trump signs spending bill, averting government shutdown and delaying border wall fight

“It is the second stopgap spending bill Congress has been forced to pass to keep the lights on in government for the 2020 budget year that began Oct. 1” writes Congressional Reporter Focusing for washingtonpost.com. Trump and Senate Republicans want $5 billion for the wall, but House Democrats included no such money at all in the spending bills they passed.That deal was supposed to make it easier for Congress’s spending committees to write their bills. Source: washingtonpost.com

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California agency projects $7 billion surplus next year

“California had a record $21.5 billion surplus in the state budget last year” reports thebusinessjournal.com. But the size of the surplus depends on whether the Trump administration lets California tax the groups that manage the state’s Medicaid plans.The analyst’s office now expects individual income tax collections to grow more slowly than they did two years ago. Source: thebusinessjournal.com

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Major parts of Chicago mayor’s budget-balancing plan advance in city council

“City budget officials have said other belt-tightening measures would be taken to make up for the rest of the lost revenue” writes Midwest Communications Inc for 95kqds.com. A chronic budget deficit and big unfunded pension liability have weighed on credit ratings for the nation’s third-largest city, leading to high borrowing costs.The measures head to a final vote next week in the full city council, which will also take up the mayor’s proposed $11.65 billion all-funds, fiscal 2020 budget.The biggest piece of the mayor’s budget-balancing puzzle called for refunding $1.3 billion…

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AirAsia to sell tickets on other airlines as part of online push

“(Reuters) – Malaysian budget carrier AirAsia Group Bhd said on Friday it would sell flights on more than 100 other global airlines as part of a push to boost revenues” writes Midwest Communications Inc for 95kqds.com. AirAsia is also looking at other ways to partner directly with airlines and companies that compliment the carrier’s network and travel services beyond Asia Pacific, said airasia.com Head of Airline Distribution Rajiv Kumar.The budget carrier in August announced a reorganization, separating its airline operations from its travel and lifestyle arm airasia.com, which it said…

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US budget deficit surges to $134.5 billion in October

“The Treasury Department said Wednesday that the deficit last month totaled $134.5 billion, up from a shortfall in October 2018 of $100.5 billion” reports thebusinessjournal.com. The government ran up a deficit of $984.4 billion for the 2019 budget year that ended Sept. 30, 26% larger than in 2018.The Congressional Budget Office is forecasting that the deficit for 2020 will hit $1 trillion and will remain over $1 trillion for the next decade.(AP) — The federal government, which ended the 2019 budget year with its largest deficit in seven years, began…

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Mayfield Hts. approves 6-month moratorium on new apartments

“Passage of the Mayfield Heights budget Monday was in direct contract to passage of the 2018 budget” writes Jeff Piorkowski for cleveland.com. Council voted without opposition Monday to approve a city budget for 2019 to total $35,856.632, an increase of $392,662 over the 2018 budget.After voting for the 2019 budget, DeJohn said: “I did have a problem with (the 2018 budget), because they were asking for a tax increase and the budget increased. Source: cleveland.com

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Budget delay has repercussions for Pentagon

“His morning newsletter, “Jamie McIntyre’s Daily on Defense,” is free and available by email subscription at dailyondefense.com” reports washingtonexaminer.com. Jamie McIntyre is the Washington Examiner’s senior writer on defense and national security.Bipartisan leaders of the House and Senate Appropriations committees meet today to seek agreement on extending a continuing resolution to fund the federal government, and with it, the Pentagon, for another month.An existing stopgap resolution to fund the government at last year’s level will expire next week.All of the services need to go through this so we can focus…

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Editorial: What do you know, L.A. is in financial peril again

“Then, as now, city officials approved the raises even as they warned of financial troubles ahead” reports latimes.com. For years, Garcetti and the City Council have pledged to eliminate L.A.’s structural budget deficit.But city officials said their policy is not to include anticipated pay hikes in the budget, and so now the city must scramble to balance its finances. Source: latimes.com

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Sudan Needs Up to $5 Billion in Budget Support to Prevent Collapse

“KHARTOUM (Reuters) – Sudan needs up to $5 billion in budget support to avert economic collapse and launch reforms after the ouster of veteran ruler Omar al-Bashir, its finance minister told Reuters” writes Min Read for reuters.com. Sudan has had some support for fuel and wheat imports but about 65 percent of its 44 million people live in poverty and it needs up to $2 billion in development funding along with a hoped-for $2 billion from Arab development funds, he said.It has drawn slightly more than half of $3 billion…

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The US Army is bracing for ‘severe impacts’ to billions of dollars in planned spending as Congress struggles to pass a budget

“The continuing resolution, service documents said, “disrupts major training exercises and events, slows the growth of readiness and execution of maintenance, curtails hiring and recruitment actions, and adversely impacts contracting negotiations.”” writes Ryan Pickrell for businessinsider.com. Congress is running out of time to reach a budget deal, and the US Army is bracing for “severe impacts” to its modernization and readiness plans as the threat of an extended continuing resolution looms large on the horizon.The Army reported that $8.8 billion in its fiscal year 2020 budget request would be affected. Source:…

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