House Adopts Continuing Resolution to Fund Government Through November 18th >>

October 4th, 2011

House Adopts Continuing Resolution to Fund Government Through November 18th

Today, the House, by a vote of 352-66, adopted the Senate-passed FY12 Continuing Resolution (CR) to extend funding for federal government operations and programs through November 18th, 2011. The President is expected to sign the bill later today. Funding levels in the CR are approximately 1.5% below FY11 levels. Appropriators in both the House and Senate will now work to develop a FY12 omnibus appropriations bill or several “mini-bus” appropriations bills to fund the government for the remainder of FY12 through September 30, 2012.

At the same time, the Joint Deficit Reduction Committee (also known as “the Supercommittee”) has begun internal debates and will soon schedule public hearings on proposals to come up with at least $1.2 trillion in federal savings over 10 years. In addition to spending cuts, the Supercommittee will examine federal tax reform and specific tax measures to raise federal revenue to reach the $1.2 trillion level. These cuts would not effect FY12 appropriations. If the Congress fails to pass the Supercommittee’s recommendation, $1.2 trillion in cuts will be automatically imposed over a 10 year period beginning in FY13 by OMB. These automatic cuts would be divided equally between defense and domestic spending programs.

Mapetsi will continue to monitor these funding bills and keep you posted on developments.

Comments Off on House Adopts Continuing Resolution to Fund Government Through November 18th

Comments are closed.