FY 2014 Budget Bills Advance

March 22, 2013

by Paula Skedsvold

Although the two major parties were able to agree on a FY 2013 bill that would keep the government operating, the budget plans for FY 2014 demonstrate that the parties remain far apart on priorities. 

The House budget plan drafted by Budget Chairman Paul Ryan proposes to balance the budget in 10 years, cut taxes, make $4.6 trillion in additional cuts, repeal the Affordable Care Act, and make major changes to Medicare and Medicaid. It passed the House on a party-line vote. The plan is $92 billion below the $1.058 trillion cap agreed to in the Budget Control Act, and makes significant cuts to non-defense discretionary accounts.

On the Senate side, the plan championed by Budget Chairman Patty Murray would eliminate the sequester, cut spending by $975 billion over 10 years, raise $975 billion in new taxes for the wealthy and corporations, provide $100 billion for infrastructure and workforce training programs, and reduce the deficit by $1.85 billion. The bill was voted out of committee and is currently under debate on the Senate floor. 

The budget bills forecast the vision and priorities for each legislative body, but appropriators will set the actual spending levels for the next fiscal year. Those hearings have begun.

The President is expected to submit his proposed budget for FY 2014 in early April, about two months later than usual.