ABC reports an agreement on FY11 funding levels has been reached
Despite a
noisy barrage of
tough talk from John Boehner and Eric Cantor, it's looking increasingly likely that the GOP is eager to agree to a funding compromise that will prevent a government shutdown. George Stephanopoulos of ABC News
reports:
Sources tell me that budget negotiators on Capitol Hill have tentatively agreed on a deal that would involve at least $33 billion in spending cuts from this year’s budget. That’s $23 billion dollars more than Democrats have previously agreed to in short-term continuing resolutions, and $28 billion less than Republicans previously passed in the House.
This would put FY2011 discretionary spending at $1.054 trillion, a decrease of $33 billion, roughly 3% of the budget. (Update: The 3% is only of discretionary spending. Overall, $33 billion represents less than a 1% reduction in spending and just under 2% of the deficit.) Stephanopoulos points out that this apparent agreement on a funding level does not guarantee a deal will get done. Where the cuts will come from is still an open issue, as are the questions of whether there will be any policy riders, and if so, which ones.
The fact that the overall spending levels have apparently been settled is a big deal, however. Now that there is a bipartisan agreement on spending levels, Republicans won't be able to conflate their ideological provisions with budgetary issues. Presumably if negotiators have gotten this far, however, there's no way that the GOP will continue to insist on provisions like the repeal of health care reform or banning family planning funding.
Assuming a deal gets done, one of the most interesting things to watch will be whether or not tea party Republicans embrace it. Odds are, they won't—the most recent temporary funding bill passed without their support, proving that despite GOP rhetoric it's possible to move legislation on a bipartisan basis through the House.
Update: Vice President Biden confirms the report.
