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May 19, 2008 Agreement Expected before Week's End Conferees on the Budget Resolution will meet May 20, with House floor action on the conference report expected Wednesday. Budget leaders believe both chambers will adopt a final budget by the end of the week. Adoption of the budget will give appropriators their “302 (b)” discretionary spending levels (i.e., piece of the pie) that is distributed among the subcommittees. The 302 (b)s will help facilitate the movement of the FY 2009 appropriations' bills, with subcommittee markups expected to begin after the Memorial Day recess, possibly mid-June. The final budget figures are not yet available. For copies of the House and Senate versions of their respective Budget Resolutions, visit the links below: The president early this year stated that he would veto any spending bills that exceeded the “reasonable and responsible” levels in his request. Given that neither the House nor the Senate has the two-thirds majority vote required to override a presidential veto, it is probable that Congress will pass a continuing resolution to sustain government operations at fiscal year 2008 levels through February or March 2009, and complete its fiscal year 2009 appropriations work after the new administration takes office. For fiscal year 2010, President Bush will not prepare a budget. Instead, the Office of Management and Budget—which assists the president in formulating the budget and monitoring the implementation of the enacted budget—has directed executive branch agencies to submit their budget requests after the new administration or transition team is in place. In the meantime, agencies will complete a technical review of their prior and current year spending data to establish baseline estimates for the next administration's budget planning. Questions? Please contact Emily Holubowich, Director of Government Relations. _____________________ |
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