Federal Budget Released

The Office of Management and Budget (OMB) released the President’s 2006 Budget. The Departments of Defense and Homeland Security generally did well. Other departments and agencies are slated for significant cuts. The Coast Guard’s budget would be increased 9.9%. The budget for the Office of Border and Transportation Security (which includes the Customs and Border Protection) also would be increased 9.9%. The budget for the St. Lawrence Seaway Development Corporation would remain unchanged, but only if Congress enacts a proposal to collect user fees. The budget for the Maritime Administration would be cut by 3%, with funding for the Title XI loan guarantee program being eliminated. The budget of the U.S. Army Corps of Engineers for operation and maintenance would be increased by 1.8%. Please bear in mind that this is merely a budget request and a lot can and will happen before monies are actually appropriated. (HK Law)