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OMB Report: Budget Deal Means No Further Sequester Cuts for FY 2014

BudgetAn Office of Management and Budget report indicates there will be no further cuts to federal agencies’ discretionary spending for fiscal year 2014 following the congressional budget agreement reached in December, Federal Times reported Monday.

Citing that Feb. 7 report, Sean Reilly writes defense spending will remain at $520.5 billion for this fiscal year and spending for other programs will be at $491.8 billio.

Reilly adds the fiscal 2015 budget will allocate $521.3 billion for defense and $492.4 billion for non-defense spending.

Several agencies could loosen hiring restrictions and cost-cutting measures implemented after the 2011 Budget Control Act mandated sequester cuts to address the deficit, according to the report.

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