2024 Fiscal Year Budget. Valentina romei and michael o’dwyer in london. The new fiscal year began on october 1, and congress struggled to enact a cr by the end of september to avoid a government shutdown.

In cbo’s projections, the federal budget deficit in fiscal year 2024 is $1.9 trillion. The budget recommendation also proposes a $200 million deposit to the budget stabilization fund, which would bring the rainy day fund balance to nearly $2 billion by.