Back

Upcoming Congressional Fiscal Policy Deadlines

FCC Spectrum Auction Authority
March 9, 2023
Authority for the FCC to grant a license or construction permit through its competitive bidding system expires. The House passed a bill to extend the authority through May 19, but the Senate has not yet acted on it.

Medicaid Assistance for States
March 31, 2023/June 30, 2023/September 30, 2023/December 31, 2023
The Medicaid federal medical assistance percentage (FMAP) for states has been temporarily enhanced since the first round of COVID legislation in 2020. A transition plan included in the FY 2023 omnibus continues the 6.2 percentage point bonus for the first quarter of 2023, reduces it to 5 points in the second quarter, reduces it to 2.5 points in the third quarter, and provides a 1.5 point bonus for the fourth quarter.

Debt limit
As early as June 2023
The debt ceiling will likely need to be raised or suspended after a $2.5 trillion debt limit increase enacted in December 2021 is exhausted and extraordinary measures are no longer sufficient to avoid default. The government will officially reach the statutory limit on January 19, according to a letter from Treasury Secretary Janet Yellen, although extraordinary measures will allow Treasury to continue to pay obligations until at least early June. According to CBO, the exhaustion date could be pushed to sometime between July and September if tax receipts meet or exceed estimates.

Student Loan Executive Order
Possible August 2023
In August 2022, the White House announced executive action that provided debt forgiveness for certain borrowers while extending the repayment pause for all borrowers until the end of 2022. The moratorium was again extended to 60 days after either the resolution of student loan litigation or June 30, 2023.

Funding the Government / Appropriations

September 30, 2023

Congress enacted a FY 2023 omnibus in late December that funds the government through the end of the fiscal year. Q&A: Everything You Should Know About Government Shutdowns; Appropriations Watch

Agriculture and Nutrition Programs
September 30, 2023
The most recent farm bill is scheduled to expire, including crop insurance, nutrition programs such as SNAP, rural development, and agricultural research and conservation programs.

National Flood Insurance Program Authorization Expires

September 30, 2023

An extension was included in the FY 2023 omnibus. More on NFIP

Authorization of TANF & Related Programs Expires

September 30, 2023

Extensions were included in the FY 2023 omnibus.

Medicaid Policies & Extenders
September 30, 2023
Medicaid Disproportionate Share Hospital cuts begin at the start of FY 2024 and continue through FY 2027. The moratorium on payment under the Medicare physician fee schedule for complex services described by Healthcare Common Procedure Coding System (HCPCS) code G2211 expires, in addition to various Medicare extenders.

Medicare Physician Payments

December 31, 2023/December 31, 2024/December 31, 2025

A temporary 3 percent bonus payment for physicians for 2022 was enacted in late 2021. The FY 2023 omnibus modified that bonus structure, providing 2.5% for 2023 and 1.25% in 2024.

In addition, the omnibus provided a one-year extension of the bonus for providers who are part of Alternative Payment Models, through 2025 (reduced to 3.5 percent from 5 percent for that final year). The bill also extends the 50 percent revenue thresholds for qualification for the APM bonuses through 2025.

Medicare Redesign & Drug Costs
January 1, 2024
Medicare Part D redesign begins, with some reduced costs in 2024 and seniors’ drug costs in Medicare capped at $2,000 in 2025.

Statutory PAYGO
December 2024 or January 2025
Statutory pay-as-you-go (PAYGO) rules provide for an across-the-board sequester of non-exempt mandatory spending programs if lawmakers enact net deficit-increasing legislation over the course of the year. A provision in the FY 2023 omnibus shifted the sequestration totals from the 2023 and 2024 scorecards and added them to the 2025 scorecard. Statutory PAYGO requires the Office of Management and Budget (OMB) to issue a sequestration order within 15 days of the end of a congressional session.


Source link

Wealthfargo
Wealthfargo

Leave a Reply

Your email address will not be published. Required fields are marked *

We use cookies to give you the best experience. Cookie Policy