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Path Cleared For Fiscal Year 23 Omnibus

US

Senate Appropriations Committee Chair Patrick Leahy (D-VT) said in a statement yesterday that negotiators have “reached a bipartisan, bicameral framework" to clear the path to legislate a USD$1.7 trillion Fiscal Year 23 omnibus.

  • Appropriators are expected to reveal precise top spending levels when the final text is filed but have reportedly agreed to a USD$858 billion defence budget with some haggling on social spending outstanding.
  • Senate Majority Leader Chuck Schumer (D-NY) indicated yesterday that a multi-billion-dollar Ukraine aid package and rewritten Electoral Count Act are to be included. Child Tax Credits and cannabis banking legislation are scrapped.
  • The House will vote today on a stopgap to extend funding until Dec 23.
  • The primary risk now comes from the Senate where the bill requires unanimous consent to avoid lengthy procedural delays. The onus will be on Minority Leader Mitch McConnell (R-KY) to prod his caucus to vote for the package or see a yearlong stopgap – a worst case scenario for the Pentagon.
  • McConnell doesn’t want to see the Department of Defence underfunded for a year, so expect some “Senate magic” to pass the bill by the December 23 deadline.

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