House Expected to Vote Today, Senate Next Week
For the first time since 2010, the House and Senate have reached agreement on a joint budget resolution. The resolution would cut $5.3 trillion from the budget to balance federal receipts and expenditures over nine years. The majority of those cuts would come from mandatory entitlement programs such as Medicare. As expected, the discretionary spending in 2016 will be at the current budget cap levels of $1.016 trillion.
Of particular interest, the budget agreement includes a provision that would allow the House and Senate Committees to write a surface transportation reauthorization bill at levels higher than incoming Highway Trust Fund revenue. In addition, the bill includes language that will allow for deficit-neutral spending on the construction of infrastructure projects that are of national and regional significance.
For more information, please contact Sean O’Neill at oneills@agc.org or (202) 547-8892.