CBO: No Sequester Budget Cuts Needed in Fiscal 2016

1 min read

budget analysis reviewThe Congressional Budget Office has said sequestration is not necessary for the current fiscal year because defense and nondefense appropriations do not exceed budget limits set by law.

CBO said Monday that fiscal 2016 defense and nondefense funding allocations are respectively equal to the estimated $606.9 billion and $542.8 billion caps for the programs.

The agency adjusted the spending limits to include a combined $24.2 billion for overseas contingency operations, Medicare and Disability Insurance and Supplemental Security Income program integrity efforts, emergency wildfire management and disaster relief missions.

CBO also estimates the overall cap on discretionary budget authority will decline from $1.070 trillion in FY 2017 to approximately $1.065 trillion in FY 2018, then will rise steadily to about $1.145 billion by FY 2021.

The spending limits represent an average annual increase of $2.5 percent from fiscal 2018 to fiscal 2021, the report states.

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