Dueling Plans for Federal Spending
March 13, 2013 - 3:00am
WASHINGTON -- It’s budget season on Capitol Hill, and so far, the mandatory budget cuts that took effect earlier this month seem here to stay.
Details of two budget plans -- a Senate resolution to continue funding the federal government through the end of the 2013 fiscal year, and the proposed Republican budget for the 2014 fiscal year, which begins October 1 -- emerged Tuesday. The parallel budget processes are the result of delays in the government for the 2013 fiscal year; in the next two weeks, Congress must reach an agreement on a resolution setting spending levels for the rest of the year or shut down the government when the current resolution expires March 27.
At the same time, the House of Representatives and the Senate are preparing their budget plans for the 2014 fiscal year, which begins in October. President Obama is expected to propose his own budget on April 8, several weeks later than in the past. And mandatory budget cuts required by the law that raised the federal debt ceiling in August 2011 went into effect at the start of this month, cutting 5 percent across the board from domestic programs.
Read more: http://www.insidehighered.com/news/2013/03/13/budgets-proposed-rest-2013-and-2014-fiscal-years#ixzz2NQCRVihu
Inside Higher Ed
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