CBO reports deficits are projected to increase from 2017 to 2025, with the 2025 deficit reaching nearly $1.1 trillion. The national debt is projected to increase to $27.3 trillion by 2025. Interest on the debt will become the third largest federal expenditure in 2025, behind only Social Security and Medicare.
In the last Congress, dozens of bipartisan jobs bills passed by the House were blocked by Senator Reid. Through regular order and an open amendment process, bipartisan jobs bills and important policy priorities will go to the president’s desk.
In early August, the Highway Trust Fund is expected, by law, to stop making payments to states to avoid a negative balance. In the past, Congress kept the HTF solvent primarily with general fund money – transferring $54 billion since 2008. But the Bipartisan Budget Act of 2013 stipulated that any transfer to the HTF now must be offset. Congress is currently working through options to keep the HTF solvent.