Pie chart of us budget 20168/3/2023 ![]() The Obama administration's budget was transmitted to Congress on February 2, 2015. The budget and appropriations legislation will be the first passed since Republicans gained majorities in both houses of the United States Congress in the 2014 midterm elections. Although the word "sequestration" was widely applied to refer to these cuts, even a continuing resolution would not cause another round of across-the-board sequestration cuts as in 2013 because the FY2016 discretionary defense cap is still slightly larger than the FY2015 cap in nominal terms. Ĭoncern was expressed that the BCA caps for defense were far below the Obama administration's budget request and would lead to cuts relative to these increased levels. The Bipartisan Budget Act of 2013 increased the budget caps for FY2014 and FY2015 by $45 billion and $18 billion, respectively. These were first applied in FY2013 they resulted in across-the-board sequestration cuts because that budget was funded through a full-year continuing resolution that exceeded the budget caps. The Budget Control Act of 2011 (BCA) had established spending caps on defense and non-defense spending. The final funding package was passed as an omnibus spending bill, the Consolidated Appropriations Act, 2016, enacted on December 18, 2015. The government was initially funded through a series of three temporary continuing resolutions. The requested budget was submitted to the 114th Congress on February 2, 2015. The United States Federal Budget for fiscal year 2016 began as a budget proposed by President Barack Obama to fund government operations for Octo– September 30, 2016.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |