Senate Majority Leader Harry Reid (D-Nev.) said he will move a $1 trillion omnibus spending bill to avoid another continuing resolution.
With the failure of the supercommittee — tasked with cutting $1.2 trillion from the federal deficit — to strike a deal, Congress is back to square one, said David Hawkings, editor of the CQ Roll Call Daily Briefing in an interview on In Depth with Francis Rose.
Bernie Becker, a staff writer for The Hill newspaper, joined the Federal Drive with Tom Temin and Amy Morris to discuss the myriad budget uncertainties facing Congress and federal agencies.
The administration, lawmakers and others are sounding off on the failure of the supercommittee to reach a deal for cutting more than $1 trillion from the deficit. Facing automatic, across-the-board cuts — half from defense and half from civilian agencies, beginning in 2013 — the consensus now seems to be Congress should work to come up with an alternative deficit-reduction plan.
Admit it, have you been losing sleep over the activities of the congressional supercommittee? If not, you may be on the right track, Senior Correspondent Mike Causey says.
Dr. Winslow Sargeant will be the new chief counsel for advocacy of the Small Business Administration.
An amendment to the 2012 Defense Authorization Bill would cap taxpayer-funded contractor compensation at $400,000. Under current executive compensation limits set in 1998, contractors can charge up to $693,951 for the salaries of their top five executives.
Despite the successful passage last week of a small group of annual spending bills covering several federal agencies\' 2012 budgets, Congress will likely fold the remaining bills into a single omnibus.
Stan Collender, a budget expert and partner at Qorvis Communications, said nobody should panic just yet about possible automatic, across-the- board cuts. They won't be enacted immediately, he told the Federal Drive with Tom Temin and Amy Morris. And Congress could still wiggle out of them.
A government shutdown was averted Thursday when Congress approved a compromise spending bill. The bill funds the departments of Agriculture, Commerce, Transportation, HUD, Justice, and some smaller agencies through the end of the fiscal year. The rest of the government will operate on another short-term continuing resolution, which will expire Dec. 16.
The House and the Senate voted to approve appropriations bills for Agriculture; Commmerce, Justice and Science agencies; and the Departments of Transportation and Housing and Urban Development. Taken together this is the \"minibus.\"
Senate Majority Leader Harry Reid (D-Nev.) says the issue will come up during the first work period of the new year.
Congress crafted a partial measure to fund some agencies through fiscal year 2012 and extend a continuing resolution for others. Erik Wasson of The Hill acknowledges that the current budget process has been the most complicated he\'s seen.
With a week until the deficit panel\'s deadline, Bill Frenzel, a guest scholar of economic studies at the Brookings Institution, said details about what will be cut and by how much remain up in the air. \"At the point, we don\'t know where any of these axes are going to fall,\" he said.
In Depth with Francis Rose brings highlights from the Senate Armed Services Committee hearing on counterfeit electronic parts in the Department of Defense supply chain.