Number: RL33282
Title: The Budget for Fiscal Year 2007
Authors: Philip D. Winters, Government and Finance Division 
Abstract: The House and Senate, in late March, passed differing versions of a supplemental appropriation (H.R. 1591) providing, as requested by the President, over $90 billion for the ongoing military conflicts overseas, unrequested funds for domestic spending, and a withdrawal timetable for troops in Iraq. The House and Senate agreed to a conference report (H.Rept. 110-107; on April 25 and 26). The President vetoed (as he had indicated he would do) the bill on May 1. On May 2, an attempt to override the veto failed in the House. A new supplemental (H.R. 2206), without Iraq withdrawal timetables, passed Congress on May 24, 2007. The President signed it on May 25 (P.L. 110-28) The President's original FY2007 budget, released in early February 2006, included proposals to make the 2001 and 2003 tax cuts permanent; slow the growth of Medicare spending; hold non-defense, non-homeland security funding to little if any increase; and introduce, in FY2010, private accounts for Social Security. The budget did not extend relief from the expanding coverage of the alternative minimum tax (AMT) or fund current military actions overseas after FY2007. Both the Senate (S.Con.Res. 83; March 16, 2006) and House (H.Con.Res. 376; May 18) passed differing versions of the FY2007 budget resolution. An agreement on the resolutions was not reached. Both the House and Senate adopted (separately) deeming resolutions, setting the FY2007 dollar amount for appropriations.
Pages: 24
Date: August 23, 2007