sequester

Washington Update: With 2013 budget finalized, talks begin for 2014 funding levels

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Federal budget

Intense budget negotiations in Washington over the past few weeks have made little reference to funding for the federal Partnership for Sustainable Communities. But Congress is already discussing next year’s budget, and now is the time to weigh in on future spending.

On March 26, President Obama signed into law a final Fiscal Year 2013 spending package which retained the automatic $85 billion in spending cuts known as the sequester. Most federal agencies—including HUD, DOT and EPA—will have to make reductions in spending by the end of FY 2013 on September 30th, 2013.

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Washington Update: Sequestration in effect, FY13 funding update

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Sequester was triggered on March 1st, 2013 and with it brings $85 billion in automatic, across-the-board spending cuts. As a result of sequester, federal agencies must makes cuts of about 9 percent for non-defnse programs and about 13 percent for defense programs. These cuts must be achieved over the remaining seven months of the fiscal year. Agencies have not yet announced the specific cuts to programs they will make as a result of sequestration.

On March 27th, the continuing resolution (CR), that Congress passed last September to fund the federal government for the first six months of the fiscal year, expires. Both chambers are now working on spending packages to carry the federal government through the rest of FY 2013.

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