House and Senate Budget Committees are on course to consider a fiscal year 2010 budget resolution during the week of March 23rd. A budget resolution sets parameters for the spending and tax provisions of the detailed appropriations bills that emerge from Congress. A budget resolution identifies priorities of the majority party for both the upcoming fiscal year and the future. The FY10 budget process will likely set the stage for several priorities inclusding an overhaul of the health care system, curbing greenhouse gas emissions through a cap-and-trade system, and making Pell Grants an entitlement. President Obama released a FY10 budget blueprint last month. However, a detailed budget request from the President is not expected until late April. Nonetheless, Democratic leaders in Congress hope to have a budget resolution passed by early April -ahead of a two week congressional recess. Passing a budget resolution may prove difficult this year, particularly in the Senate, as there is considerable disagreement over where spending should be cut going forward. The movement of actual appropriations bills will likely take place over the course of the summer and into the fall.
March 17, 2009