Skip Ribbon Commands
Skip to main content

 Email  Share  Print

WEDNESDAY BUZZ: House, Senate Negotiators Reach Deal on Federal Budget

December 11, 2013

Capitol dome


​Budget negotiators last night announced a bipartisan deal to set spending levels for the federal government through FY 2015 and partially replace sequestration cuts with other savings.

House Budget Committee Chair Paul Ryan (R-WI) and Senate Budget Committee Chair Patty Murray (D-WA) had until Dec. 13 to return a plan to Congress, an outcome of the October deal to reopen the federal government. The current stopgap funding measure is scheduled to run out again Jan. 15.

The agreement sets top-line spending figures for the next two fiscal years and partially replaces the sequester—the across-the-board spending cuts triggered earlier this year following prior failures to reach a budget agreement––with other cuts and non-tax revenues.

For fiscal year 2014, overall federal spending will be $1.012 trillion and for fiscal year 2015, $1.014 trillion. The agreement replaces $63 billion in sequester cuts with a combination of other savings, and includes an additional $22.5 billion in deficit reduction.

On the higher education front, the deal is expected to go some distance to alleviate cuts to campus-based financial aid programs and federal research agencies such as the National Institutes of Health and National Science Foundation. This funding is currently in line for a second round of mandated sequestration reductions in January. 

As ACE’s Jon Fansmith told Inside Higher Ed last night, “The higher [budget] caps for both years should allow the restoration of some damaging cuts, and should at the minimum prevent any further cuts for the next two years.”

Ryan and Murray will still have to sell the deal to their respective caucuses—it faces an uphill climb especially in the House. President Obama praised the deal as “a good first step” and said he would sign it if it reaches his desk.

Also see:

Federal Budget Would Soften Next Round of Sequester Cuts
The Chronicle of Higher Education (sub. req) (Dec. 11, 2013) 

Other ACE News

  • Diversity in Leadership

    April 28, 2015

    Register Now for the ACE National Women’s Leadership Forum

    ACE is hosting the 85th National Women's Leadership Forum, a 3-day program that fosters discussions with women presidents, content experts and executive search consultants who help participants develop effective search strategies.

  • April 27, 2015

    Today's Headlines

    HEADLINES: Today's Top Higher Education News

    In today’s headlines, Corinthian Colleges Inc. announced Sunday that it will close all of its remaining 28 campuses today. And on Friday, the Department of Education’s Office for Civil Rights released guidance pertaining to Title IX coordinators on...

  • Financial Aid

    April 22, 2015

    Campaign to Save Student Aid Launches

    The Student Aid Alliance launches a campaign to increase awareness and spur action against congressional threats to curtail federal student aid programs.

  • Innovative Practices

    April 22, 2015

    2015 Challenge Festival Scheduled for Next Month

    ACE is co-sponsoring the weeklong convening of tech visionaries, business leaders, government officials and promising entrepreneurs in education and other fields.

  • Institutional Capacity

    April 22, 2015

    Register Now for Advancing to the Presidency

    Advancing to the Presidency, a two-day workshop scheduled for Oct.19-20 in Alexandria, VA, helps senior admnistrators prepare for the transition to the next level.


 Related Content