Congress will increase discretionary spending beyond Budget Control Act caps in fiscal year 2016 but below the seven percent requested by President Barack Obama, Bloomberg Government (BGOV) analysts said at a symposium last month.
Also at the event, a panel of corporate executive officers said they see the federal procurement market stabilizing in FY 2016 after sharp declines in FY 2014 and 2015.
The remarks were made at a symposium on the outlook for federal contractors in FY 2016. The Fairfax County, Va., Chamber of Commerce sponsored the event.
Head of BGOV Don Baptiste said contractors are most concerned about the federal budget. “No one believes we will exceed the budget caps by seven percent in the 2016 budget, but we are optimistic on flat budgeting,” he said.
BGOV Senior Budget Analyst Cameron Leuthy agreed that Congress will not approve a seven percent rise in discretionary spending in FY 2016 as requested by President Obama.
“Republicans are unfriendly to tax increases” and “Democrats don’t want to cut entitlements,” he said. “That makes it tough to grow discretionary spending.”
Leuthy said the Ryan-Murray budget deal marginally increased spending. “We think that is most likely this year and next,” he said.
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