WSW Special Report on President Obama’s FY13 Budget Proposal
On February 13th, President Obama released his Fiscal Year 2013 (FY13) budget proposal that requests $3.8 billion in federal spending on programs, the bulk of which are mandatory programs such as Social Security and Medicare.
Among the President’s proposed changes are modifications of income tax rates that would end the Bush-era tax cuts and raise income taxes and taxes on dividends for people with income over $250,000. The proposal also offered a placeholder for a corporate tax reform framework that is expected to be released later in February that would lower tax rates but eliminate or curb many tax deductions, particularly for firms with investments overseas.
Although the President’s budget was immediately criticized by Congressional Republicans and despite the challenges of enacting such a program in an election year, the budget blueprint offers a strong sense of the priorities of the Administration – both for this year and in a possible second term. It also serves as a starting point for deliberations in the Fiscal Year 2013 appropriations process. House Republicans are again expected to offer their own budget in the near future as a counterpoint which is expected to chart a course that would further rollback discretionary spending on federal programs and likely call for reduced taxes as well.
Winning Strategies Washington has been poring over the details of the budget proposal to discern where many federal Departments and Agencies intend to steer their programs in the near future, a detailed review of which is included below. As Congress begins an intense period of oversight hearings and review of the budget for each Department and Agency, WSW will be working closely with you on areas of opportunity or where standing interests will need to be defended as we advocate for your priorities in the year ahead.
OVERVIEW
WSW has reviewed the FY13 budget release and compiled summaries which track the topline funding levels and policy proposals for key Departments and programs. To view a topline tracker, click here. To find more details please click below:
- Department of Agriculture, please click here
- Department of Commerce, please click here
- Department of Defense, please click here
- Department of Education, please click here
- Department of Energy, please click here
- Environmental Protection Agency, please click here
- Health and Human Services, please click here
- Department of Housing and Urban Development, please click here
- Department of Justice, please click here
- Homeland Security, please click here
- Department of State, please click here
- Department of Labor, please click here
- Treasury Department, please click here
- Department of Transportation, please click here
- National Aeronautics and Space Administration, please click here
- National Science Foundation, please click here
- National Endowment for the Humanities, National Endowment for the Arts, please click here