The House and Senate passed the Budget Resolution last night, setting out a broad spending and revenue blueprint for the next five years. Differences remain between the House and Senate versions however, and will have to resolved in conference when Congress returns from its two-week Easter recess. Of particular interest, is the difference in the amount of international affairs funding each chamber provided. The Senate, following the adoption of the Kerry-Lugar amendment, restored the $4 billion that was initially cut from the Presdient's request. The House has yet to take action to restore the cuts made in the Chairman's mark ($5.3 billion). Both chambers fully funded the President's request for national defense ($556.1 billion).
Next week, look for the second FY 2009 supplemental to be submitted to an absent Congress and for the White House (led by OMB and Secretary Gates) to propose cuts in major defense programs such as the Army's Future Combat System, the F-22 fighter-jet, the Navy's DDG-1000 and the Virginia Class Submarine.