$1.014 Trillion Negotiated Through the Bipartisan Budget Act of 2013

House, Senate Pass Bipartisan Budget Agreement

Legislative Update
December 12, 2013

On December 12, the House approved the Bipartisan Budget Act of 2013 by a vote of 332-94 which establishes discretionary spending caps for Fiscal Years (FYs) 2014 and 2015. The legislation, announced Dec. 10 by House Budget Committee Chair Paul Ryan (R-WI) and Senate Budget Committee Chair Patty Murray (D-WA), sets discretionary spending for FY2014 at $1.012 trillion and eliminates $63 billion in sequestration cuts in FYs 2014 and 2015.

The Senate is expected to vote on the legislation the week of Dec. 16 and President Obama has indicated he will sign the legislation.

With a top line number in place, House Appropriations Committee Chair Hal Rogers (R-KY) and Senate Appropriations Committee Chair Barbara Mikulski (D-MD) are reportedly working on establishing the 302(b) allocations, or appropriations subcommittee allocations, to begin negotiations on an omnibus FY 2014 spending bill in advance of the expiration of the current Continuing Resolution (CR) on Jan. 15, 2014.

Further updates to this story will be posted as Congress continues its work to finalize FY2014 spending.

UPDATE 12/19: Yesterday, the Senate passed the budget agreement, clearing it for the White House. President Obama has indicated he will sign the agreement.