March 30, 2015
Both Chambers of Congress Pass Budgets
Last week, the House of Representatives and Senate both passed Fiscal Year 2016 budgets. The two chambers will now negotiate a final budget deal.
Ending a marathon voting session early Friday morning, the Senate voted 52-46 on a budget that included $5.1 trillion in spending cuts over 10 years and would balance the federal budget within a decade. This budget included a provision that would repeal the Affordable Care Act.
Earlier in the week, the House of Representatives voted 228-199 to pass a budget that cuts spending by $5.5 trillion over the next decade and balances the federal budget within a decade. The House-passed budget also repeals the Affordable Care Act.
Congress faces an April 15 deadline to pass a budget agreement, although this deadline has been flexible in the past.
Read more about the budget proposals in a March 19 Washington Alert.
ASA will continue to monitor FY 2016 budget negotiations and their impact on the specialty.