12/13/06: Since the 109th Congress only finished work on two FY 2007 appropriations bills before adjourning (Homeland Security and Defense), the incoming Appropriations Committee Chairmen, Congressman David Obey (D-WI) and Senator Robert Byrd (D-WV) announced yesterday their intent to continue the current continuing resolution for the entire 2007 fiscal year, which began October 1, 2006, and will conclude September 30, 2007, so they could be in a position to complete the FY 2008 bills on time.

While the two chairmen indicated that they would try to modify the continuing resolution and will cancel all “earmarks” in order to address priority funding needs, no specifics have yet been finalized. Extending the current continuing resolution through the entire year could mean that the SEC will have to operate at funding levels below what it anticipated. It also could make it even more difficult to increase the FY 2007 pay raise from 2.2 percent to 2.7 percent.

NTEU will continue to press Congress to ensure that the SEC and other agencies that it represents receive adequate funding. Action to finalize a long-term continuing resolution is not expected until mid-February, when the current continuing resolution expires. We will keep you apprised of additional information on this proposal as it becomes available.