The House Budget Committee Chairman on Thursday announced spending caps that will govern debate on the continuing resolution that is currently funding all government programs until March 4. The budget caps will reduce spending government wide by about $32 billion from 2010 spending levels. Specific spending cuts have not yet been decided, however, every category of spending other than defense is forecast to be reduced.
Charts released by the Committee give aggregate figures for cuts that will be applied in different funding categories. Transportation and Housing programs, which are funded through the same appropriations bill, are shown on the chart to be targeted for cuts of 17 percent. It is not certain how these cuts will be allocated between the two categories or whether the reductions will be applied across the board. The proposed spending ceiling is less than the $100 billion cuts in the non-defense/non-security part of the budget that House Republicans pledged leading up to the November elections.
The Appropriations Committee will announce what programmatic spending reductions they plan to make over the next week. AGC is working with our transportation and construction allies to protect spending for infrastructure programs.
--AGC of America