The
Bipartisan Budget Act of 2013 (; ) is a
federal statute concerning spending and the budget in the
United States, that was signed into law by
President Barack Obama on December 26, 2013. On December 10, 2013, pursuant to the provisions of the
Continuing Appropriations Act, 2014 calling for a joint budget conference to work on possible compromises, Representative
Paul Ryan and Senator
Patty Murray announced a compromise that they had agreed to after extended discussions between them. The law raises the sequestration caps for fiscal years 2014 and 2015, in return for extending the imposition of the caps into 2022 and 2023, and miscellaneous savings elsewhere in the budget. Overall, the bill is projected to lower the deficit by $23 billion over the long term.