Budget Conferees Settle on "Trigger"; not Full Report

Yesterday, House and Senate budget resolution negotiators took a step forward to agreement, but seem unlikely to meet a key but informal deadline. The Senate, through the Baucus admendment, approved advance spending on a projected 2012 surplus to offset the cost of extending some tax cuts in 2011 and 2012 as part of that chamber's budget resolution. House Budget Committee chair John Spratt (D-SC) has balked at spending a surplus that has not yet materialized. But, according to a House Democratic aide, the compromise struck would require a spending "trigger" binding only the House and allowing for the use of up to 80 percent of a 2012 projected surplus, if and when the estimate in the OMB July 2010 report shows a 2012 surplus . Today is the day when appropriators can begin sending spending bills to the floor, but without a budget resolution in place (as seems certain at this point) spending bills may run afoul of the spending caps contained in an eventual resolution. ADDENDUM: The salience of the budget resolution timing issue vis-a-vis consideration of appropriations legislation on the floor was reduced significantly today, with word today on the Hill that the House is unlikely to turn to FY 08 spending bills until after the Memorial Day recess.
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