Congress poised to pass two-year budget and debt limit deal
Prior to breaking for a six-week recess, the House of Representatives passed a two-year budget deal on Thursday that lifts defense and non-defense discretionary spending caps for federal fiscal years 2020 and 2021 and suspends the nation’s debt limit through July 2021. The Senate is expected to take up and pass the package next week before adjourning for the August recess. President Trump has indicated his intent to sign the legislation into law.
The new budget framework provides much-needed breathing room and a framework for spending levels for lawmakers as they look to fund federal agencies in the coming fiscal year beginning Oct. 1.
HANYS is disappointed that the agreement is partially offset by a two-year extension of the across-the-board sequestration cuts, which includes the 2% Medicare sequestration cut into 2029. This will result in a $640 million reduction to New York hospitals. However, the deal eliminates significant threats associated with addressing the budget and debt limit wherein hospitals and health systems risked even deeper payment cuts, such as additional site-neutral payments. Contact: Elyse Oveson