This December, the House and Senate Budget Conference Committee led by Sen. Patty Murray (D-WA) and Rep. Paul Ryan (R-WI) came to an agreement on a proposed fiscal year (FY) 2014 budget. Approved more than 2 months after FY 2014 went into effect on October 1, the compromise bill passed the House of Representatives on December 12 by a vote of 332 to 94 and the Senate on December 18 with a vote of 64 to 36. President Obama signed the bill into law on December 26, 2013.

The new bill aims to circumvent the budgetary gridlock that has plagued Washington for the past few months by setting spending levels through FY 2015. The new bill sets top-line spending levels for the federal government at $1.012 trillion for FY 2014 and $1.014 trillion for FY 2015, which will begin October 1 of this year. The appropriations committees still have the responsibility of allocating the funds to the appropriate agencies and programs.

Sources: E&E News, House Appropriations Committee, Senate Appropriations Committee