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CBO Expects No Further Across-the-Board Cuts This Fiscal Year

budget analysis reviewThe Congressional Budget Office has released its biannual sequestration report that says agencies are unlikely to face additional cuts to any funds remaining in this fiscal year’s budget, GovExec reported Friday.

Charles Clark writes that CBO projects that further automatic spending reductions will not be required through Oct. 1 because of minor cap adjustments that Congress has made since January.

An omnibus appropriations deal passed last December contains fiscal 2015 caps that are $18.5 billion above the limits set by sequestration, according to Clark’s article.

CBO estimates that cap on discretionary defense budget will increase from $521 billion in FY 2015 to $590 billion in FY 2021, according to GovExec.

Clark reports the office also estimates that spending cap for non-defense programs will grow from $492 billion in the next two fiscal years to $555 billion by fiscal 2021.

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