The House Goes Public with New Funding Bill

As predicted, Congress has started the week by introducing a Bill to address another leg of our fiscal “triad” (Sequestration, Continuing Resolution and Debt Ceiling). Earlier Monday afternoon,  the House Appropriations Committee went public with a draft bill to keep the federal government “funded” through the remainder of the fiscal year. Since October 1, 2012, the government has been operating on a stop-gap funding measure called a continuing resolution (CR).  This funding authority expires on March 27.  Unlike previous CR’s, this bill contains a “detailed Pentagon spending blueprint” and would provide about $605.3 billion for the defense portion of the bill. This includes $87.2 billion in war funds and $518.1 billion for the rest of DoD’s day-to-day operations. Key point, this base amount is essentially the same as the FY 2012 levels and $2 billion above the president’s request. A separate part of the funding package would provide $71.9 billion in discretionary funds for the Department of Veterans Affairs and Military Construction ($10.6 billion).

Except for the Department of Defense (DoD) and the Department of Veterans Affairs, the CR will extend funding for other government agencies at last year’s levels. However, the funding within the bill is subject to sequestration cuts. This means that the funding rate within the legislation is approximately $982 billion – “the level required by the President’s sequestration order”.  Details of the measure are still forthcoming…more to come.

This bulletin was cross-posted from HQAFSA.org, the official website for the Air Force Sergeants Association Headquarters. It has been posted here for your convenience. Visit HQAFSA.org for more updates!

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