December 10, 2013
J. Scott Applewhite/Associated Press
House and Senate Reach a Budget Deal: The agreement would raise military and domestic spending over the next two years but prevent another government shutdown.
WASHINGTON — House and Senate budget negotiators reached agreement Tuesday on a budget deal that would raise military and domestic spending over the next two years, shifting the pain of across-the-board cuts to other programs over the coming decade and raising fees on airline tickets to pay for airport security.
The deal, while modest in scope, amounts to a cease-fire in the budget wars that have debilitated Washington since 2011 and gives lawmakers breathing room to try to address the real drivers of federal spending — health care and entitlement programs like Medicare and Social Security — and to reshape the tax code.
For a Capitol used to paralyzing partisan gridlock, the accord between Representative Paul D. Ryan of Wisconsin, chairman of the House Budget Committee, and Senator Patty Murray of Washington, chairwoman of the Senate Budget Committee, was a reminder that even fierce political combatants can find common ground. Mr. Ryan praised the deal in the most elementary terms as a way to “get our government functioning at its very basic levels.” Continue reading “Capitol Leaders Agree to a Deal on the Budget”
By Brianna Ehley December 6, 2013 4:45 AM
The clock is ticking on the Congressional Budget Conference Committee, which only has eight days left to cobble together a budget before the Dec. 13 deadline. And though lawmakers have signaled that they are close to a deal, nothing is certain.
Budgeteers in both parties are aiming for a deal that cancels the second wave of sequester cuts authorized under the Budget Control Act of 2011. To undo those cuts, they’ll have to find savings in other areas. Some potential elements in the emerging deal include raising federal employees’ contributions to their pension funds, or having the Federal Communications Commission auction rights to electromagnetic spectrum, according to congressional aides.
Related: Enter New Budget Deal, Exit Loathsome Sequester
As difficult as it may be for Republicans and Democrats to agree on a narrow package to replace the sequester cuts, much more difficult choices lay ahead. As the Congressional Budget Office put it in a report released last month: “To put the federal budget on a sustainable long-term path, lawmakers would need to make significant policy changes—allowing revenues to rise more than would occur under current law, reducing spending for large benefit programs to amounts below those currently projected, or adopting some combination of those approaches.” Continue reading “Federal Budget: 10 Cuts That Would Save the Most”
By Erik Wasson and Alexander Bolton – 10/15/13 06:49 AM ET
An emerging deal to reopen the government and raise the nation’s debt ceiling until February gathered political momentum Monday evening after Senate Republicans signaled they would likely support it.
Lawmakers and aides said the legislation would fund the government until Jan. 15 and extend the nation’s borrowing authority until February but leave ObamaCare largely untouched.
One senior Senate aide said it would raise the debt ceiling until Feb. 7 while another said Feb. 15 remains a possibility.
It would also establish a Senate-House budget committee to craft a replacement for the automatic spending cuts known as sequestration, which would have to report its work product to Congress by Dec. 13. Continue reading “Senate leaders near deal to end shutdown, raise debt limit”