CONGRESS NEARS COMPLETION ON SPENDING PACKAGE
Congressional leaders believe that they are “95%” finished with an omnibus spending package that would provide regular appropriations for all agencies for the remainder of FY’21. Still, all work may not be completed by December 11th, the day on which the current Continuing Resolution runs out. A short-term CR may be needed, especially since Senate leaders believe that the appropriations measure will be combined with a scaled-down stimulus package. This is one reason why some in Congress prefer not to use the term “omnibus”, since dropping the “b”, would perhaps more accurately describe the behemoth measure to be passed. The new stimulus package currently comes in at $908 billion, less than half of the amount discussed prior to the election. Both a push from the incoming Biden Administration to pass a measure and the closeness of vaccines may be responsible for the new number. It is again unclear what the stimulus may have in terms of new government work, though some contractors are tracking it for any financial provisions. A final spending/stimulus measure is still likely prior to Christmas. Contractors could expect their customers to have information on specific spending accounts around the first of February if the current Congressional timetable holds. That’s better news than some years. Be prepared, however, for changes in priorities, new rules, and altered spending levels moving forward.