December 18, 2013
The Senate this afternoon voted 64-36 to give final approval to the federal budget agreement reached by Senator Patty Murray (D-WA) and Congressman Paul Ryan (R-WI). The House passed the measure last Thursday on a 332-94 bipartisan vote.
The budget sets spending levels at just above $1 trillion for FY2014 and FY2015 and includes $63 million in sequestration relief over the next two years which is directed to be split evenly between defense and non-defense discretionary programs. It is estimated that the agreement will reduce the deficit by $23 billion and all new spending is offset in other areas of the budget. The legislation also includes a 3 month extension of the doc-fix.
Congressional appropriators and their staff will now work through the next few weeks to draft spending bills with the goal of getting them passed through both chambers by the January 15th deadline, which is when the current Continuing Resolution expires.