|Budget Committees Draft FY 2010 Budget Resolutions||Permanently Extending the Bush Tax Cuts at a $2 Trillion Cost||Health Care Reform: Will filibuster-proof "reconciliation" procedures be used?||What About the Long-Term Fiscal Outlook?||Other Key Provisions in the Budget Resolutions|
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Track 1- Economic Stimulus:
Track 2 - Completion of '09 Appropriations:
Track 3 - FY 2010 Budget:
Track 4 - Stabilizing the Financial, Housing, and Auto Sectors (Ongoing)
This week, the House Budget Committee (HBC) and Senate Budget Committee (SBC) passed their respective versions of the FY 2010 Budget Resolution (FY 2010 begins October 1, 2009). The budget resolutions include a spending and revenue framework for the next 5 fiscal years.
Both committees passed their respective resolutions on straight party line votes, with the Senate resolution passing 13-10, and the House resolution passing 24-15.
In general terms, both budget resolutions reflect the priorities President Obama laid out in his February budget outline--middle class tax cuts, health care, energy, and education -- although the congressional budget plans trimmed discretionary spending increases to reduce deficit levels.
The President requested $1.096 trillion in (non-emergency) discretionary spending for FY 2010. By comparison, the House resolution includes $1.089 trillion, and the Senate-reported resolution $1.079 trillion. This places the House-proposed nonemergency discretionary spending $7 billion below the President, and the Senate level $17 billion below the President. Even after trimming spending, the Senate resolution would still increase core (non-war) defense spending by 3.8% and nondefense discretionary spending by 7%.
The HBC budget plan calls for using the filibuster-proof budget reconciliation procedure to expedite health care reform and higher education funding, while the Senate would not.
More details of the HBC and SBC budget resolutions follow in the articles below.