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Is a Federal Budget Deal Coming Soon?

Photo: foxx.house.gov

With the current federal budget set to expire Friday and a fast-approaching deadline, House and Senate negotiators reportedly “narrowed their differences” over the weekend on a more-than-$1 trillion federal spending bill for fiscal year 2012 according to Politico.

If passed, and then signed by President Obama, discretionary spending would continue to go down as required under the August debt ceiling agreement, with this bill cutting nearly 10 percent in nondefense spending. The Defense Department would receive $518 billion, a a $5 billion increase over the previous fiscal year. This figure does not include war spending.

The State Department‘s 2012 budget includes a 4 percent increase for global health programs, Politico reported. However, the combined base budget for State and foreign aid would fall to $42.3 billion, down from $52.8 billion in the previous year.

The Environmental Protection Agency would also face a significant cut totaling nearly $300 million in fiscal 2012, Politico reported.

Congress has, in fiscal year 2012 beginning Oct. 1, passed only three of the 12 funding bills according to Federal News Radio.

Previous federal funding bill coverage:

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