Senate and House negotiators reached an agreement yesterday, December 10, 2013, on top line numbers for Fiscal Year (FY) 2014 and FY 2015 spending and partial replacement of the sequester cuts.
It is being reported that the “bipartisan package includes $63 billion of ‘sequester relief,’ $85 billion of total savings, and $23 billion in net deficit reduction. The agreement would set the discretionary spending level for fiscal year 2014 at $1.012 trillion, and $1.014 trillion in FY 2015.” Click here to view the Politico article.
A summary, section by section, and legislative text of the budget deal can be found here.
The House is expected to consider the proposal as early as tomorrow, Thursday December 12th. While there are rumblings in the press that some conservatives and some Democrats are not happy with the deal it is too soon to know if that is the sign of a true compromise or trouble brewing in the wings.