Lawmakers to announce budget deal
Source: NBC
Bipartisan congressional negotiators have scheduled a 6 p.m. news conference to unveil a long-awaited budget framework to fund the government past mid-January and stabilize the government's finances into the near future.
Rep. Paul Ryan, R-Wisc., and Sen. Patty Murray, D-Wash., the top lawmakers on budgetary issues in their respective chambers will announce a fiscal framework that would help eliminate the constant threat of a government shutdown under which lawmakers have worked for the better part of the last three years.
The announcement follows a day full of fine-tuning the details of the agreement, which was expected to cover the next two fiscal years and set a top-line budget number for each year. Ryan and Murray shuttled back and forth between meetings with each other and their respective parties' leadership throughout the day on Wednesday.
The framework under consideration by Murray and Ryan would reportedly set spending levels above the $967 billion cap established by the sequester, in part through offsetting cuts and reforms and in part by raising revenue, perhaps through airline fees or selling off part of the broadcast spectrum.
Though the tentative agreement falls far short of a "grand bargain" that solves overarching fiscal issues through a combination of new taxes and entitlement reforms, the agreement would offer some stability to government funding after several years of governing characterized by stopgap spending measures.
Read more: http://nbcpolitics.nbcnews.com/_news/2013/12/10/21851499-lawmakers-to-announce-budget-deal?lite
Jesus Malverde
(10,274 posts)A short-term budget deal would set spending levels and turn off unpopular cuts for two years.
Budget negotiators were set to announce Tuesday an agreement on a two-year budget deal to set spending levels for the federal government and replace unpopular spending cuts with other savings.
House Budget Chairman Paul Ryan, R-Wis., and Senate Budget Chairwoman Patty Murray, D-Wash., are spearheading negotiations that intensified in recent days as a Dec. 13 deadline approaches.
If successful, the deal would put the congressional budget process back on track, allowing for passage of the 12 annual spending bills that cover federal spending other than mandatory programs like Social Security and Medicare. It would also eliminate the threat of another government shutdown.
The budget framework would set top-line spending figures for the next two fiscal years and replace for two years the sequester the across-the-board spending cuts triggered earlier this year following prior failures to reach a budget agreement with other cuts and non-tax revenues.
http://www.usatoday.com/story/news/politics/2013/12/10/congress-budget-deal/3966641/
Jesus Malverde
(10,274 posts)An array of powerful outside conservative groups have united to tank the emerging budget deal being negotiated by party leaders.
FreedomWorks is planning to oppose the deal in its current reported form, while Heritage Action and CATO have also announced their disapproval of the agreement being hammered by Rep. Paul Ryan (R-Wisc.) and Sen. Patty Murray (D-Wash.), the respective House and Senate budget committee chairs.
The deal is not going to be what mainstream Republicans hoped for, said Sen. Jeff Sessions (R-Ala.), the ranking Republican on the Budget Committee. Itll probably turn out to be a very tough call for a lot of people who want to have an agreement but also want to see progress made in certain areas.
I dont think a deal has to be reached if its not a good deal, said Sessions, who added that it would be healthy if the sides could reach an agreement. While Ryan and Murray have marked Friday as their deadline, government funding doesnt dry up until mid-January. Sessions said it was his understanding that Murray and Ryan will meet Tuesday afternoon to continue negotiations.
Read more: Washington Budget: Conservatives Oppose Paul Ryan-Patty Murray Plan | TIME.com http://swampland.time.com/2013/12/10/conservative-groups-try-to-kill-emerging-budget-agreement/
Myrina
(12,296 posts)Keep repeating to myself: have faith in Bernie, have faith in Bernie, have faith in Bernie, have faith in Bernie, ...
Lasher
(27,640 posts)Whatever the deal is, I have a feeling I'd prefer an impasse.
rurallib
(62,451 posts)Unemployment insurance?
Surely Ryan wanted a a showpiece.
Myrina
(12,296 posts)... but everytime i see the smarmy smug mug of Paul Ryan, i get queasy
Jesus Malverde
(10,274 posts)Congressional negotiators reached a modest budget agreement Tuesday to restore about $65 billion in automatic spending cuts from programs ranging from parks to the Pentagon, with votes expected in both houses by week's end.
Officials said the increases would be offset by a variety of spending reductions and increased fees elsewhere in the budget totaling about $85 billion over a decade, enough for a largely symbolic cut of roughly $20 billion in the nation's $17 trillion debt.
Among them is a requirement for federal workers to make larger contributions to their own pensions, as well as an increase in a federal security fee that would add $5 to the cost of a typical roundtrip flight.
Officials said Democrats had failed in their bid to include an extension of benefits for workers unemployed longer than 26 weeks. The program expires on Dec. 28, when payments will be cut off for an estimated 1.3 million individuals.
Announcement of the deal came in the form of a statement that the two negotiators, Sen. Patty Murray, D-Wash., and Rep. Paul Ryan, R-Wis., who planned a news conference to announce details. The lawmakers chair the budget committees in the two houses of Congress, and negotiated the deal in secretive talks over recent weeks.
Officials said that under the agreement, an estimated $65 billion in automatic spending cuts would be restored through the end of the next budget year, which runs to Sept. 30, 2015.
Officials who described the details in advance of the news conference did so on the condition of anonymity, saying they were not authorized to speak on the record.
http://bostonherald.com/news_opinion/us_politics/2013/12/bipartisan_negotiators_reach_modest_budget_pact
atreides1
(16,093 posts)"Among them is a requirement for federal workers to make larger contributions to their own pensions, as well as an increase in a federal security fee that would add $5 to the cost of a typical roundtrip flight."
As usual we the (real) people get screwed while corporate welfare continues...
mdbl
(4,976 posts)I am supposed to feel good about this? Fat chance!
Jesus Malverde
(10,274 posts)K lib
(153 posts)eventhough it wont get enough votes for the Hastert Rule?
SkatmanRoth
(843 posts)The Republican efforts to tank the economy through austerity for the poor and middle class have received a major set back. It seems that the Democrats are going to improve the economy in spite of conservative obstructionism for the last five years.
Jesus Malverde
(10,274 posts)Comrade Grumpy
(13,184 posts)But those cuts will have to paid for out of programs on "auto-pilot," Ryan said. I read that as social programs, of course.
mdbl
(4,976 posts)They can first be taxed at 90 percent again, then we'll see where we are.