Del. Secilil Elbedechel said that the budget gap has been settled and both houses are now preparing to come out with a committee report ready for budget deliberation by the members of the Olbiil Era Kelulalu.
Sen. Mark Rudimch said that the House and Senate Committee on Ways and Means have agreed to a $54 million budget which includes the restricted funds for the Hospital Trust Fund in the amount of $1.7 million and Protected Areas Network Trust Fund amounting to $1.175 million.
Elbedechel said the proposed budget also deleted provisions on new taxes.
The budget measure also deleted the Senate proposal that the health care funding scheme implementation be suspended until Oct. 1 of 2011.
Elbedechel said that sessions will be conducted before Sept. 20 to ensure that the budget will be signed into law before the president leaves for the United Nations General Assembly slated on Sept. 24.
Both panels have agreed to an amount of over $54 million so as not to cause further delay in the passage of the budget.
Earlier lawmakers assured a timely passage of the proposed Fiscal Year 2011 proposed budget to avoid a government shutdown or go into a continuing resolution.
The House of Delegates has rejected the Senate version causing them to meet and settle the kinks.
Under the law, President Johnson Toribiong has 15 days to review the proposed budget, the fiscal year ends on Oct. 1.
The House version approved a $58.3 million budget while the Senate voted to a $51.7 financial package.
Elbedechel said the House version included Compact of Free Association funding giving Palau at least $18.2 million into their analysis.
The president’s version was at $54 million.
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