An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Wednesday, October 16, 2013
Text of CR Just Passed by Senate
Here is a link to an electronic copy of the CR just passed by the Senate.
Looks like they are budgeting at previously approved rates in FY 2013 for a few months.
I will look into it further later this evening. Provided FYI.
(Comments welcome reading this 'legalese' often gives me a BIIIIIG headache...)
Looks like the rate includes that which was experienced under the FY 2013 "Sequester" cuts. From Section 101(b):
(b) The rate for operations provided by subsection (a)
7 for each account shall be calculated to reflect the full
8 amount of any reduction required in fiscal year 2013 pur
9 suant to—
10 (1) any provision of division G of the Consoli
11 dated and Further Continuing Appropriations Act,
12 2013 (Public Law 113–6), including section 3004;
13 and
14 (2) the Presidential sequestration order dated
15 March 1, 2013, except as attributable to budget au
16 thority made available by—
17 (A) sections 140(b) or 141(b) of the Con
18 tinuing Appropriations Resolution, 2013 (Public
19 Law 112–175); or
20 (B) the Disaster Relief Appropriations Act,
This approved rate looks to be in excess of that previously approved in a CR that the Senate passed a couple of weeks ago that reportedly capped discretionary spending at a $986B annual rate.
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