Seven months after it began, Congress looks set to finalize the ledger for fiscal year 2011. The House plans to move first, voting on the product of an 11th hour compromise between Senate Majority Leader Harry Reid, D-Nev., House Speaker John Boehner, R-Ohio, and the White House. They'll also send over two resolutions: one baring money from the appropriations bill from going to implement last year's health care law and another keeping federal dollars from abortion provider Planned Parenthood. Those three items will then head to the Senate, where they will face a 60-vote threshold for final passage.
The House is trying to get a jump on the next budget though; they'll have votes on a series of spending proposals later in the day. Front and center will be the plan offered by House Budget Committee Chairman Paul Ryan, R-Wisc., which slashes government spending by more than $4 trillion over the next ten years and overhauls the Medicare and Medicaid health care entitlement programs.
A comprehensive funding plan for the year hasn't yet come together in the Senate, but two members, Bob Corker, R-Tenn., and Claire McCaskill, D-Mo., plan to discuss their plan to put an across-the-board cap on federal spending at a 2:00 p.m. ET news conference.
Fiscal issues aren't just limited to the federal government. State and local officials have been searching for ways to pare down their spending obligations as well. Republican Governor Scott Walker of Wisconsin testifies before the House Oversight and Government Reform Committee on how his state is seeking to avoid a $3 billion shortfall in 2012. Part of his budget plan involved increased benefit contributions and a reduction in collective bargaining rights for state employees, which sparked massive protests in the state capital of Madison in February.
It's tax day eve, and legislators on the left and right will commemorate the day in markedly different ways. Political advocacy group Americans for Tax Reform alongside Republican lawmakers are expected to caution against raising taxes in the midst of a fragile economic recovery at a Capitol Hill media availability. On the left, the liberal Congressional Progressive Caucus will highlight the continued expense of the 10-year war in Afghanistan.
We'll be following all these stories and more, so be sure to stay with Fox News for all the latest.