Continuing Budget Resolution for FY09 Continues MCC Budget Saga

On September 27th, the Senate passed the Continuing Resolution (CR) approved by the House on September 24, funding most of the federal government at FY08 baseline levels through March 6, 2009. Passage of the Continuing Resolution ensures that the International Affairs Budget will be funded at the present FY08 base level of $34.3 billion through the first part of 2009 and will not be considered until after a new Administration and Congress takes office in January 2009. (For more details, read the great updates provided by U.S. Global Leadership Campaign.)What does the CR mean for the MCC? For the time being, it means a postponement of taking up the Senate Appropriations Bill recommending a life support only budget. The MCC has about $640 million to work with through March 6th -- 43% of $1.49 billion (their $1.544 billion FY08 baseline minus the $58 million rescission from the supplemental). Backing out 43% of the total $640 million for administrative expenses, the MCC has about $600 million for compact, threshold and due-diligence funding.