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House approves bipartisan budget agreement

Posted by BEMuser on Oct 29, 2015 10:25:08 AM

bipartisan budget agreementBy a vote of 266 to 167 yesterday, the U.S. House of Representatives approved the budget agreement reached this week by the White House and leaders in Congress. Dubbed the Bipartisan Budget Act of 2015, the agreement would increase the debt ceiling and lift spending caps mandated by the Budget Control Act of 2011, restoring 90 percent of the sequestration budget cuts for non-defense discretionary programs. The Senate has not acted on the bill yet, but it is expected to do so before November 3, when the government would begin to default on its obligations if the debt ceiling is not raised.

The spending levels for each federal agency will have to be determined before amounts can be allocated to particular programs and activities. So it will be some time before HUD’s Office of Public and Indian Housing (PIH) will be able to provide you with anything more than an estimate of how much funding you can expect for your programs in calendar year (CY) 2016.

Topics: Appropriations, Sequestration

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