Just as Congress finalizes FY 2024 funding, President Biden has released his proposal for government funding FY 2025. Each year, the president issues a proposed budget to Congress. The president’s proposal is never adopted in full but serves as a guidepost indicating the president’s priorities and serves as a starting point for Congressional negotiations. Overall, the President is asking for $1.63 trillion in total spending, which is just 0.7 percent over FY 2023 enacted levels.
The proposal includes a 2 percent federal pay raise for General Schedule (GS) employees and a 4.5 percent pay raise for members of the military. The GS pay raise would be the smallest since President Biden took office but is on par with pre-pandemic raises and comes as inflation is projected to cool. Last year, feds received about a 4.7 percent raise on average.