The Obama Administration today released additional details regarding its fiscal year 2010 budget request to Congress. The Administration released a blueprint of its budget in February. For federal construction spending programs, the Administration proposes a total of $118.7 billion, a $724 million or 0.6 percent decrease below the $119.4 billion appropriated for FY 2009.
While the budget recommends a mix of increases and reductions in programs across market areas, it does, however, increase in funding for water and wastewater infrastructure construction. Specifically, the budget recommends $2.4 billion for the Clean Water State Revolving Loan Fund (SRF) program and $1.5 billion for the Safe Drinking Water SRF program, together representing a 160 percent increase over FY 2009 funding levels.
On a related note, Congress on April 29 approved its $3.5 trillion budget resolution for FY 2010. No Republicans voted for the measure in either chamber. The budget resolution, which provides a non-binding framework for future tax and spending legislation in Congress, assumes $764 billion in tax cuts over five years, and aims to cut the deficit in half by FY 2012 and by two-thirds by FY 2014. The agreement sets discretionary funding at $1.1 trillion for FY 2010, $10 billion less than the amount President Obama recommended in his budget, and sets non-defense discretionary spending at $529.8 billion for FY 2010.
For a chart comparing the Administration's FY 2010 budget request, click here.
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