By: National Special Districts Coalition
Over the weekend, congressional leaders reached agreement on overall budget levels for fiscal year 2024. The deal, which was negotiated by House Speaker Mike Johnson (R-LA) and Senate Majority Leader Chuck Schumer (D-NY), sets topline spending at approximately $1.66 trillion. This amount includes $886 billion allocated for defense spending and $703.7 billion for non-defense spending. It also incorporates $69 billion as part of a so-called “side deal” to the non-defense side of the ledger, bringing total spending to nearly $773 billion. Pursuant to the agreement, which largely follows the debt limit deal that was negotiated by President Joe Biden and then-House Speaker Kevin McCarthy, non-defense programs would remain relatively flat (less than 1 percent decrease) in fiscal year 2024, while military programs would increase by about three percent.
In an effort to appease GOP lawmakers, congressional leaders agreed to rescind $6.1 billion in unspent pandemic aid, as well as $20.2 billion for IRS enforcement. It should be noted that the IRS rescission was included in the debt limit deal, though it was initially set to be divided over two fiscal years. The latest agreement would frontload that money into fiscal year 2024.
Looking ahead, and with a budget framework in place, House and Senate appropriators will begin to hash out spending levels for the various federal departments, as well as individual programs. It should be noted that every federal department has been operating under a short-term Continuing Resolution since the fiscal year began on October 1. Four (of the 12) bills that make up the federal budget are set to expire on January 19th, and the remaining eight measures have a deadline of February 2nd. While the Johnson-Schumer agreement is a major step forward, Congress will only have 11 days to avoid a partial government shutdown. It will not be an easy task, as members of the conservative House Freedom Caucus view the deal as “totally unacceptable.” Meanwhile, other conservative lawmakers have threatened to block any spending bill that does not address the flow of migrants at the border.
In other news, as the 118th Congress kicks off its second session this week, the House is set to ease back into action on Tuesday afternoon with a quorum call. On Wednesday, lawmakers will consider several Financial Services-related measures on the suspension calendar (requires 2/3 majority for passage). Later in the week, the chamber will consider legislation (S.J. Res. 38) that would overturn the Biden administration’s exemption from “Buy America” requirements for electric vehicle (EV) charger components. The Republican-led measure narrowly passed the Senate in November. It should be noted that President Biden has vowed to veto S.J. Res. 38 if it reaches his desk.
Across Capitol Hill, the Senate will consider a slate of nominations this week, including Joseph Goffman to lead the U.S. Environmental Protection Agency (EPA) Office of Air and Radiation.
Relevant Hearings
House Transportation and Infrastructure – On Thursday morning, the Subcommittee on Water Resources and Environment will hold a hearing on proposals for the biennial Water Resources Development Act (WRDA). More information on the hearing can be found here.
House Natural Resources – On Wednesday morning, the panel’s Federal Lands and Oversight subcommittees will hold a joint hearing on the National Park Service’s deferred maintenance backlog. Additional details on the hearing, including a memo prepared by committee staff, can be accessed here.
Senate Budget Committee – On Wednesday morning, the panel will hold a hearing on safeguarding municipal bonds from climate risk. More information on the hearing, including a full witness list, can be found here.
Senate Homeland Security – On Wednesday morning, the full committee will meet for an oversight hearing on harnessing artificial intelligence to improve government services and customer experience. Additional information on the hearing can be accessed here.
#AdvocacyNews
#FeatureNews
#Budget
#Revenue
#EnvironmentandDisasterPreparedness
#Water
#NaturalResources