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For the first time in five years, both the House and the Senate have passed their respective FY14 budget resolutions. The next step in the budget process mandates that the two chambers go to conference, and sets a target date of April 15 to produce a concurrent budget resolution, although
Although the President submitted this year’s budget two months late, it’s clear that the various fiscal cliffs, the on again off again on again sequester and the continuing resolutions have made budget planning a nightmare. In defense, the budget proposes a new round of base closures that would begin in
The sequester was, of course, never supposed to happen. The indiscriminate cuts to spending would be so damaging that surely Congress would take some action to avoid it – except it didn’t. With the exception of certain exempted programs – military salaries, veteran’s programs, Social Security, welfare and food stamps
The continuing resolution (CR) that passed in the House on March 6 was expected to easily pass in the Senate last week (wait a minute; did I just say “easily pass in the Senate”?). Both bills would fund the government at sequester level spending through September 30. The Senate version
Both chambers remain on course to pass a largely uncontroversial extension of the expiring continuing resolution (CR) that will be comprised of an omnibus and probably five out of the 12 individual appropriations bills. It will set FY13 discretionary spending at $984b, equal to the sequester level, but with increased
CR Update: Yesterday the House passed a six-month FY13 continuing resolution (CR) that maintains sequester level spending for the remainder of the fiscal year, but provides appropriations to Defense and Milcon-VA. The measure, HR 933, passed by a vote of 267-151, would extend the federal pay freeze but grants military
With two potential budget showdowns on the horizon – the sequester and the expiration of the Continuing Resolution (CR); and a third down the road – the next expiration of the debt ceiling – Democrats and Republicans appear to be headed for a confrontation over the sequester. Both sides are
With nine days to go, hope of averting the March 1 sequester continues to fade, with each side drawing a line in the sand, and little reason to believe that their differences can be breached any time soon. Last week the President again went on record demanding that any agreement
Having barely avoided falling off the fiscal cliff on January 1, we soon found ourselves sliding down a slippery slope toward a dark and gloomy abyss. The sequester was postponed for only two months, the debt ceiling was raised, but only until May, and we continue to hurtle toward the
Later today the House will vote on a plan to effectively lift the debt limit for four months, removing, or at least postponing, the threat of default. The bill, HR 325, temporarily extends the debt limit without seeking any concessions on spending, and allows Republicans a way to avoid having
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