Capital Thinking: Budget & Appropriations

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LEGISLATIVE ACTIVITY

 

FY 2014 Appropriations

The House is scheduled to consider a short-term FY 2014 Continuing Resolution (CR) this week that would maintain federal funding at current levels for likely two to three months past the start of the fiscal year on October 1. With the debate over Syria action expected to monopolize the nine legislative days in September, Congress is expected to quickly approve the stopgap bill to prevent a government shutdown on October 1. This will push the resolution of the FY 2014 budget into the broader fiscal negotiations expected this fall as the nation’s borrowing authority limit will be reached by mid-October and the prospect of a military strike in Syria has renewed pressure for action to alter the next round of sequestration scheduled for January, particularly for defense-related activities. With Democrats and Republicans still at odds over how to address these issues, whether through spending cuts, entitlement reform, or revenue, it appears another fiscal showdown is looming in the coming weeks.

Topics:  Appropriations Bill, Debt Ceiling, Federal Budget, Federal Funding

Published In: Elections & Politics Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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