The House and Senate have passed their versions of a $3 trillion budget resolution for the 2009 Fiscal Year. The budget resolution provides a budget blueprint for Congress, setting broad spending limits.

Many speculate that Democratic leaders will delay FY 2009 appropriation spending bills until after the November elections and possibly until a new president takes office next year. Under this scenario, Congress would operate on a continuing resolution, a temporary extension of last year's budget.

The House and Senate versions of the bill would provide more discretionary funding that the President Bush's FY 2009 budget request for the 12 annual appropriations bills, including the spending bill that provides funding for programs under the Department of Education. The House bill provides $25.4 billion more funding than the president's request, and the Senate version provides $21.8 billion more.

However, President Bush has promised to veto any appropriations bill that provides more funding than he requested in his budget proposal.

The House and Senate must now reconcile the differences in their budget resolutions.

Posted 03/18/08 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web Site questions or comments to Web@NASFAA.org.