House Passes Two-Week Budget Extension with $4 Billion in Cuts
March 1st, 2011
Earlier this afternoon, the House passed 335-91 a two-week extension of the existing short-term “continuing resolution” (CR) that is keeping the government running at fiscal year 2010 levels. The House extension includes $4 billion in immediate budget cuts, intended to be a down payment on the much deeper cuts contained in H.R. 1, the House spending bill passed on February 19.
President Obama made a last ditch effort today to convince House GOP leadership to pass a longer, 30-day extension, by offering to increase the cut to $8 billion. However, Speaker of the House John Boehner (R-OH) rejected the offer. Senate Majority Leader Harry Reid (D-NV) has indicated that the Senate intends to pass the House’s two-week extension and use the remaining time to negotiate a more reasonable bill for the remainder of the fiscal year.
Only one USDA program—the Broadband Direct Loan Subsidy—is cut in the two-week extension. Funding for this program would be reduced by $29 million. Click here for a complete breakdown of the $4 billion in cuts.
The current CR expires on March 4, 2011, so, should the Senate accept the House extension, the new appropriations deadline would be March 18.
One Response to “House Passes Two-Week Budget Extension with $4 Billion in Cuts”
1Senate Picks up Budget Debate Under Tight Deadline | The Farmland Report
March 4th, 2011 @ 1:37 pm
[...] the House passed a two week funding bill to extend the continuing resolution set to expire March 4. Included in the extension were $4 billion in immediate budget cuts, which included only one U.S. Department of Agriculture program—Broadband Direct Loan [...]
Comments are closed.