Congress reaches agreement on continuing resolution

House and Senate leaders said July 31 they have reached an agreement on funding the government into the first quarter of fiscal 2013.

Congressional leaders have agreed to cap spending under the continuing resolution at $1.047 trillion. It's the amount agreed to in the Budget Control Act in August 2011.

A continuing resolution keeps the government funding at current levels, if a formal appropriations bill has not been signed into law.

The fiscal year begins Oct. 1.

Reid said the agreement will provide stability for agencies in the coming months.

House Majority Leader John Boehner (R-Ohio) said members will draft legislation that the both chambers can pass and that President Barack Obama will sign into law.

The White House applauded the agreement.

“The agreement reached by House and Senate leadership to fund the government through the first quarter of 2013 is a welcome development,” the White House said in a statement. “We are encouraged that both sides have agreed to resolve this issue without delay.”

About the Author

Matthew Weigelt is a freelance journalist who writes about acquisition and procurement.

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Reader comments

Wed, Aug 1, 2012 JoeTaxPayer

To RBB in Salt Lake: Is Salt Lake City ready to absorb 16,033 middle and high end jobs lost as a direct result of Sequestration??? Or a state GSP hit of S1,612,000,000.00? Take that much money out of your economy and see how hard it is even to get a job at a fast food business or retail store. Your housing market would tank also due to all the defaults! This would be the result of sequestration FY2013 budgets according to the Fuller Report: "The Economic Impact of the Budget Control Act of 2011 on DOD & non-DOD Agencies" Just a thought. Be careful what you ask for.

Wed, Aug 1, 2012 RBB Salt Lake City

What is the point of having an opposition party if they do not stand up when the have a chance. We are running insane deficits year after year and neither party has the guts to say enough is enough. Boehner needs to be removed if the Republicans are to have any hope of ever being a party of principle. Otherwise, we simply have Democrats and Democrats light.

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