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CBO: $515B of Senate’s FY 2016 Defense Bill Goes Against Sequestration Caps

BudgetThe Congressional Budget Office estimates that $515.5 billion of $604.6 billion authorized under the Senate Armed Services Committee’s proposed fiscal year 2016 defense spending bill counts against budget caps set under the 2011 Budget Control Act.

CBO said in a report published Wednesday the remaining funds would be for nondefense budget functions and overseas contingency operations.

The authorized amounts in the bill will generate outlays of $589.2 billion over the next five years, the agency noted.

According to CBO, an additional $17.8 billion could also be slashed from defense appropriations from 2017 to 2020 due to provisions in the bill discretionary spending, while provisions for direct spending could also reduce outlays by up to $4.9 billion through 2025.

CBO estimates the bill — if enacted — to drop revenues by up to $1.1 billion between 2018 and 2025 and reduce the deficit by $3.8 billion over the next 10 years.

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