- Chairman of the US House Budget Committee Paul Ryan submitted a new decade-long budget outline [PDF] that includes lower levels of defense spending than the one he issued last year, or the plan he supported as a vice presidential candidate. The Congressional Budget Office (CBO) said [PDF] it needed more time to process and assess such long-term budget projections because of recent tax code changes. The House’s baseline number for DoD in FY14, which this year oddly comes before the presidential request, comes at $560.2B.
- Yesterday the US Senate did not (yet) agree to start considering how to fund the federal government for the rest of FY13. Some prominent Republican senators wanted more time to read the 587-page bill (more than twice the size of HR 933, the house bill it is derived from). The subject will be on the floor again today. In the meantime, here is the CBO’s estimate [PDF] of the Senate’s version of the bill [PDF]. Sorting the current fiscal year’s finances before April 8, when the Administration will submit its FY14 request, would be a good idea.
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