President Signs Short-Term CR for FY 2015
On September 19, 2014, the president signed a Continuing Resolution (CR, H.J. Res. 124) for fiscal year (FY) 2015 that keeps the federal government running until December 11, 2014. Discretionary spending levels in the CR are set at an annualized level of $1.012 trillion. This equals the FY 2014 discretionary spending level specified in the Bipartisan Budget Act of 2013 (BBA; P.L. 113-67), and is -$1.392 billion less than the BBA allows for FY 2015. Within the total, nondefense discretionary spending in the CR exceeds the FY 2015 cap set in the BBA by about $2 billion; lower defense discretionary spending more than offsets that amount, as shown below. To achieve the FY 2014 BBA spending level while providing new funding for targeted programs, the CR applies a -0.0554% across-the-board (ATB) rescission to most discretionary programs.
In addition to providing funding for current programs, the CR includes certain program flexibilities, as well as a few policy provisions. For example, it provides funds for responding to the Ebola crisis, allocates additional funds for the Commodity Assistance Program, and extends Temporary Assistance for Needy Families (TANF), the Export-Import Bank, and the Internet Tax Freedom Act. These provisions and others are described more fully in this brief.