House and Senate bargainers have agreed on a compromise $1.5 trillion budget for next year containing just half the cuts the Senate had wanted in President Clinton's long-range spending plans.
Negotiators agreed to trim spending in unspecified programs by $13 billion over the next five years, instead of the $26 billion the Senate adopted in March. The House had not approved any of the extra cuts.Lawmakers and aides said $500 million of the cuts would be made in fiscal 1995, which begins next Oct. 1. The original Senate-approved reductions would have been $1.6 billion next year.
House and Senate leaders hope the budget can be approved this week. Other than the cuts, it largely reflects Clinton's priorities for increased spending for job training and other domestic programs, defense cuts, and no new taxes.
The document is non-binding, but it does guide decisions on spending for specific programs that lawmakers will make later this year.