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Obama Signs Two-Year Budget Legislation

Monday, November 2, 2015 - 12:30PM

President Barack Obama today signed the Bipartisan Budget Act of 2015. The legislation suspends the debt limit through March 2017 and lifts spending limits through September 2017. The deal raises sequestration caps and increases discretionary spending by about $50 billion in fiscal year (FY) 2016 and $30 billion in FY 2017, split evenly between defense and domestic spending. Congress passed the legislation last week with votes of 64-35 in the Senate and 266-167 in the House.

Read about the bill’s implications for tax credit partnerships on the Notes from Novogradac blog.

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