March 22, 2012
House Budget Proposes Additional Cuts to FY 2013
The House Budget Committee approved its FY 2013 budget resolution late last night. This resolution, a blueprint developed by Chairman Paul Ryan (R-WI), will now go to the House floor where it is expected to gain strong support from most Republicans and fierce opposition from Democrats. The plan would set discretionary spending in FY 2013 at $1.028 trillion, which is $19 billion less than the $1.047 trillion spending cap outlined in the debt limit agreement (Budget Control Act) approved last August. To find the extra saving, the measure directs six authorizing committees to find more than $200 billion in mandatory savings over a 10-year period. The savings would be packaged together and moved through the House using the budget reconciliation process, although the move will almost certainly be unsuccessful since reconciliation requires that the Senate and House agree to the same budget plan.
The budget resolution will be considered on the House floor next week, the last week of work before a two-week congressional recess period.