Next week House Budget Vice Chair Allyson Schwartz and Senate Budget Chair Kent Conrad expect to begin work separately on fiscal 2010 budget resolutions. Both committees await release of CBO's final estimates based on President Obama's proposals released earlier this month. CBO Predicts a budget deficit for '09 totaling about $1.7 trillion, including the recently passed economic stimulus appropriations.
Once CBO releases its final numbers, the Senate and House will insert numbers into their resolutions in preparation for April action on the full budget from the White House. Keep a close watch on the final budget presentation for more infrastructure construction spending, and for tax provisions which may be imposed on construction businesses. Also, some compromise will be included on treatment of highway and airport "trust fund" spending in the out years of the ten year budget Obama intents to present.
Once CBO releases its final numbers, the Senate and House will insert numbers into their resolutions in preparation for April action on the full budget from the White House. Keep a close watch on the final budget presentation for more infrastructure construction spending, and for tax provisions which may be imposed on construction businesses. Also, some compromise will be included on treatment of highway and airport "trust fund" spending in the out years of the ten year budget Obama intents to present.
