December 10, 2007
In this issue:
Previous Updates
Upcoming Activities
The FY08 omnibus spending bill will dominate Congressional activities this week. A revised omnibus bill – incorporating all the 11 remaining spending bills – could be ready for a floor vote in the House Tuesday. The omnibus bill reportedly splits the $23 billion difference between what Congress approved in the FY08 budget resolution and what the White House requested in FY08 non-defense discretionary spending. The measure also is expected to include up to $30 billion in supplemental war funding and as much as $7 billion in emergency spending for such items as border security and drought relief. On Saturday, the President’s OMB director hinted at a veto if the bill spends beyond the agreed budget resolution number.
The bill could also include an extension of the State Children's Health Insurance Program until October and temporarily stop a pay cut for physicians under Medicare.
[Back to Top]
Recent Actions
SENATE LEADERSHIP
Former Education Secretary, Senator Lamar Alexander (R-TN) won election as Senate Republican Conference Chairman, a position initially sought by Senator Hutchison. She remains in her position as Senate Republican Policy Committee chair.
[Back to Top]
STATE FINANCES
A new report by the National Governors' Association and the National Association of State Budget Officers says many states are likely to face budget shortfalls this year because of the double whammy of rising healthcare costs and the housing crisis. The report, released this morning, notes states are feeling pressure on both the revenue and spending sides of the ledger, and some states are already dipping into Rainy Day accounts to help make up the difference. But not all states are singing the blues. According to the report, the weak dollar is helping some states that export farm goods and manufactured products. Energy-producing states are also expected to see improved bottom lines.
[Back to Top]
INDIRECT COSTS
The Council on Governmental Relations (COGR) has developed preliminary guidance for institutions to use in dealing with the 35 percent indirect cost cap imposed on Defense Department basic research by the FY08 Defense appropriations bill. The COGR document, along with December 1 memorandum from the Undersecretary of Defense, are available below:
|
|
Managing The Department of Defense Indirect Cost Limitation
(Word Document) |
|
Memorandum Re: Indirect Cost Limitation for Basic Research Awards
(PDF Document) |
|
[Back to Top]
