Tuesday, March 4, 2014

Aligning Resources and Results: The President’s FY 2015 Budget

On Tuesday, March 4, President Obama released his Fiscal Year (FY) 2015 Budget, which outlines the administration’s policy agenda and budget request for federal spending in the upcoming year and sets the tone for the national policy agenda moving forward. As the guide by which every major spending and revenue decision is made, the federal budget is a significant policy vehicle for supporting children and families.

The FY15 budget proposal adheres to spending levels outlined in the Bipartisan Budget Act of 2013, which set discretionary spending at $1.014 trillion for FY15. The Bipartisan Budget Act of 2013 provided $63 billion in sequester relief over two years and is likely to minimize the impact the sequester has had on vulnerable families by increasing funding above the drastically reduced FY 2013 spending levels. In addition, the agreement addresses sequestration by increasing revenues as opposed to only additional cuts, which should result in a positive impact on important programs for families.

Each year, the release of the President’s budget becomes an opportunity to emphasize how and why policymakers and communities should work together to maximize resources and ensure that supports for children and families are sustained. In CSSP’s new brief “Aligning Resources and Results: The Importance of Meaningful Partnerships,” we highlight the increased collaboration between policymakers and communities throughout the country and how these partnerships are resulting in smarter investments and improved outcomes for children and families. With a relentless focus on results, accountability and diverse representation across multiple sectors, these partnerships have demonstrated their commitment to securing the resources needed to address the unique needs of their communities.

The President’s FY2015 budget includes funding for key programs that impact communities:
  • Early Childhood Programs: $650 million 
  • Now is the Time Initiative: $164 million 
  • Race to the Top: $300 million 
  • Promise Neighborhoods: $100 million 
  • Choice Neighborhoods: $120 million 
  • Community Development Block Grant: $2.8 billion
  • Housing Choice Voucher Program: $20 billion 
  • Workforce Innovation Fund: $140 million
  • State Paid Leave Initiatives: $5 million 

While the President’s FY 2015 budget follows the 2015 spending levels agreed to in the Bipartisan Budget Act, it also builds on this progress with a fully-paid for $56 billion Opportunity, Growth, and Security Initiative. Evenly split between defense and non-defense priorities, the Opportunity, Growth and Security Initiative provides additional investments in the critical areas of education; research and innovation; infrastructure and jobs; opportunity and mobility; public health, safety and security; more efficient and effective Government; and national defense.

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