The federal budget has many functions, and thus accounts, that deal with different areas of spending. The 150 Account, in particular, outlines U.S. funding for international affairs. Below are some basic facts about the 150 Account, international assistance and foreign aid.
- The 150 Account deals with the relationship between the United States government and other governments around the world. It allocates funds to operating U.S. embassies all over the world, as well as military assistance to U.S. allies.
- The 150 Account deals with the economic relations between the United States and other countries. It allocates funds for economic assistance to new democracies, promoting U.S. exports internationally, and making U.S. payments to international organizations.
- The 150 Account deals with foreign aid. It allocates funds to aid developing nations and international peacekeeping efforts.
- The major agencies in this function include the Departments of Agriculture, State, and the Treasury, the United States Agency for International Development, and the Millennium Challenge Corporation.
- It has two subsections that specifically deal with international aid: the 151 Account and the 152 Account.
- The 151 Account is for funding international development and humanitarian assistance. International development aims to improve the daily lives of people, while humanitarian assistance aims to help a country after a natural or manmade disaster.
- The 152 Account is for funding international security assistance. This includes training other countries about U.S. military practices and peacekeeping.
- The 150 Account makes up about 1 percent of the federal budget.
- On May 21, 2015, the Senate approved the allocation of $49 billion for the international affairs budget.
- Base funding for the international affairs budget is $39 billion, which is $1 billion less than the current budget for base spending.
More awareness of the 150 Account, international affairs budget and foreign aid functions can help influence policy and change in the United States and abroad.
– Ella Cady