Democrats offer two-year budget deal

The Democrat-led House Budget Committee has released a two-year spending deal that would fund defense at $733 billion in fiscal year 2020 and $749 billion in fiscal year 2021, the final years of the 2011 Budget Control Act.

The legislation would set the spending cap for FY-20 at $664 billion, but would supplement that with a $69 billion Overseas Contingency Operations account, bringing total defense spending to $733 billion. The defense cap for FY-21 would be $680 billion, plus a $69 billion OCO account, bringing the total to $749 billion.

Without the deal, the BCA caps base defense spending at $576 billion in FY-20 and $591 billion in FY-21, but does not include the OCO account.

Meanwhile, the legislation would set non-defense spending caps at $631 billion for FY-20 and at $646 billion for FY-21. Non-defense spending would benefit from an additional $8 billion in OCO each year.

The BCA, meanwhile, caps non-defense at $542 billion in FY-20 and at $555 billion in FY-21.

The committee said the deal adheres to the "principle of parity -- applying the same dollar increase to the defense and non-defense discretionary caps."

The Trump administration and congressional Republicans are likely to balk at the proposal, as they have called for $750 billion of total defense spending in FY-20.

The committee is scheduled to vote on the legislation tomorrow.