The fiscal deal (PL 113-46) reached in mid-October that re-opened the government and raised the debt ceiling also resulted in creation of a conference committee tasked with reconciling the House and Senate fiscal 2014 budget resolutions (H Con Res 25, S Con Res 8). On Dec. 10, the conference’s chairman and vice chairwoman announced that they had agreed on a package, and the text was released the next day. Immediately below is a collection of CQ News reports and other documents regarding that package, which the House and Senate both eventually passed. Those stories are followed by earlier reports regarding the committee, its members, their goals and the possible ingredients in a budget pact, grouped by general subject matter. Coverage of the October government shutdown can be found here. Reports from this summer's work on fiscal 2014 appropriations bills can be found here. For specialty coverage on budgetary matters, CQ also offers Budget Tracker.
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The budget agreement between Rep. Paul D. Ryan, R-Wis., and Sen. Patty Murray, D-Wash., announced Dec. 10, would raise discretionary spending by $63 billion over the next two fiscal years and increase the sequester-set level of $967 billion to $1.012 trillion this year and to $1.014 trillion the following year. The House passed the agreement Dec. 12, and the Senate followed suit Dec. 18.
The conference committee included 29 lawmakers — seven members of the House and 22 senators (the entire roster of that chamber’s Budget Committee). The following are reports on their backgrounds and the committee's procedures.
Even as conferees worked to come up with an agreement, others from the Hill and beyond sought to exert their own influence.
Only $19 billion separated the $986 billion discretionary spending level for fiscal 2013 from the $967 billion fiscal 2014 limit that had been set under the sequester rules.
A 2011 deal to raise the debt limit resulted in automatic, across-the-board spending cuts, known as the sequester, that took effect in the spring. Lawmakers from both parties have pushed for eliminating all or some of those cuts, which will take place over the next decade. So far they have yet to come up with a plan that could clear Congress.
Defense hawks with a penchant for forging bipartisan coalitions have looked to eliminate or restructure cuts due to reduce defense spending by about $20 billion in fiscal 2014.
There’s no shortage of tax proposals on either side of the aisle. But the gaping partisan difference over raising revenue means any tax provisions in a deal will have to be carefully drawn to overcome political hurdles. Ideas such as a corporate tax overhaul may arise, but discrete, targeted measures may be more manageable.
Broad entitlement and other mandatory spending changes are a priority for Republican budget hawks, who see coming fiscal calamity in the growth of Social Security and Medicare spending. Democrats, however, ruled out any sweeping changes to the programs.