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OMB Announces No Sequester This Year

As expected, the Office of Management and Budget (OMB) has confirmed that no sequestration of discretionary spending will be required this year.

Lawmakers had purposefully worked to ensure that the fiscal year (FY) 2015 omnibus passed last year was within the caps placed on defense and non-defense spending under the 2010 debt limit law and the 2013 bipartisan budget agreement.

FY 2015 defense spending comes in at $585.9 billion, and domestic discretionary spending totals $514.1 billion.

OMB is required to report on the status of sequestration within 15 days of the end of a session of Congress.