**UPDATE: The FY10 Budget Resolution conference agreement has been approved by the House and Senate**
House and Senate conferees have reached an agreement on an FY10 Budget Resolution. A budget resolution is a non-binding budget blueprint, which does not require the President’s signature. The legislation calls for $1.096 trillion in non-emergency discretionary spending in FY10, only $10 billion or 1% less than President Obama’s initial request -as captured in a budget blueprint from the administration in February. President Obama is expected to release a full budget request in early May.
The most contested provision of the FY10 Budget Resolution would permit the use of the fast-track budget reconciliartion process for health insurance and student loan reform legislation. The budget reconciliation process is being labeled as a last resort, and would allow for the movement of legislation with a simple majority -avoiding the threat of a filibuster by the minority.
Final votes on the budget resolution are expected on Wednesday April 29th.