House
Budget Chair Paul Ryan (R-01-WI) and Senate Budget Chair Patty Murray (D-WA)
released their respective fiscal year 2014 budget proposals, which serve as
markers to guide the rest of the budget process. Ryan’s proposal, which cleared
the House Budget Committee without approval of any of the more than 20
Democratic amendments, has a strong pro-energy component.
The House measure, which would reduce the deficit by $4.6 trillion over a 10-year period beginning in 2014, calls for increased oil drilling, approval of the Keystone XL pipeline and decreased funding for renewable energy investments, as part of its energy priorities. The Senate budget resolution, which also cleared its respective committee along party lines, would replace sequester cuts with $1.85 trillion in savings over 10 years through a combination of tax revenue increases and spending cuts.
In contrast to Ryan’s proposal, it includes increased funding for renewable energy priorities and initiatives to combat climate change. The Senate measure is expected to be debated on the Senate floor this week once the stopgap funding measure clears.
The House measure, which would reduce the deficit by $4.6 trillion over a 10-year period beginning in 2014, calls for increased oil drilling, approval of the Keystone XL pipeline and decreased funding for renewable energy investments, as part of its energy priorities. The Senate budget resolution, which also cleared its respective committee along party lines, would replace sequester cuts with $1.85 trillion in savings over 10 years through a combination of tax revenue increases and spending cuts.
In contrast to Ryan’s proposal, it includes increased funding for renewable energy priorities and initiatives to combat climate change. The Senate measure is expected to be debated on the Senate floor this week once the stopgap funding measure clears.
Continue reading ~ [Washington Energy Update Sidley Austin LLP]
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