Thursday, April 8, 2021

OMB submits FY-22 spends #s

The Biden Administration plans to unveil its government-wide discretionary spending numbers for FY 2022 on April 9. The proposal is likely to be scant of details on both defense and non-defense funding. Most expect the defense numbers will remain stable (about $1.4T). The proposal will allow Congress to start up with appropriations process. The President's proposal is likely to face Senate challenges, where 60 votes are required to advance the 12 annual spending bills to keep the government operational. Republican lawmakers, who have already objected to both the already-passed $1.9T COVID-19 relief plan and Biden's proposed $2.3T infrastructure plan, won’t likely budge unless there’s an increase to defense. The Office of Management and Budget has already indicated Friday's proposal will lack even the "skinny" budget definition to overall spending levels. (Source: The Hill 04/08/21)

UPDATEThe Office of Management and Budget submitted President Biden’s government-wide discretionary spending numbers for FY 2022 on April 9. The discretionary request proposes $769B in non-defense discretionary funding - a 16 percent increase from FY-21 - and $753B for national defense programs - a 1.7 percent increase. (Source: OMB 04/09/21) FY2022-Discretionary-Request.pdf (whitehouse.gov)

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