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CBO: Spending Estimates Indicate Sequestration Not Required in FY 2015

money-graphA new report by the Congressional Budget Office says that sequestration is not required for fiscal year 2015 as budget appropriations for defense and nondefense programs do not exceed caps on discretionary budget authority.

CBO said Monday that the enacted defense funding for fiscal 2015 is equal to the limit of $585.8 billion, while the nondefense budget of $513.8 billion is slightly below the cap of $514.1 billion.

The caps have been adjusted to include a total of $86.3 billion for overseas contingency operations, disaster relief, Ebola outbreak emergency requirements as well as Medicare, Social Security Disability Insurance and Supplemental Security Income program integrity initiatives, CBO noted.

The report states that if Congress later adds appropriations that breach the budget caps before the end of the fiscal year, CBO will reduce its estimated limits on discretionary spending for fiscal 2016.

CBO also said that automatic spending reductions included in the Budget Control Act of 2011 will reduce the discretionary budget caps for fiscal years 2016 through 2021, but the amount will still gradually increase from $1.02 trillion in fiscal 2016 to $1.14 trillion in fiscal 2021.

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