The House Budget Committee Chairman announced spending caps that will govern debate on the continuing resolution that is currently funding all government programs until March 4. The budget caps will reduce spending government-wide by about $32 billion from 2010 spending levels. Specific spending cuts have not yet been decided, however, every category of spending other than defense is expected to be reduced.
Charts released by the Committee give aggregate figures for cuts that will be applied in different funding categories. Transportation and Housing programs, which are funded through the same appropriations bill, are shown on the chart to be targeted for cuts of 17%, or $11.5 billion. It is not certain how these cuts will be allocated between the two categories or whether the reductions will be applied across the board, but it is the largest proposed cut (by percentage) of all the targeted programs. The proposed spending ceiling is less than the $100 billion cuts in the non-defense/non-security part of the budget that House Republicans pledged leading up to the November elections.
Senate Democrats are in favor of some reduced spending, but are expected to oppose the magnitude of cuts suggested by the House Republicans.
The Appropriations Committee will announce what programmatic spending reductions they plan to make over the next week.