US BUDGET DEAL AT A GLANCE

A proposed congressional budget agreement would avoid a government shutdown in January and set spending for defense and domestic programs. It would:

Establish overall nonwar-related discretionary spending for the current fiscal year at $1.012 trillion and $1.014 trillion for fiscal 2015. Discretionary spending is the money approved by Congress each year for agency operations.

Ease the across-the-board “sequester” spending cuts by $63 billion over two years, split between defense and domestic programs. In the current fiscal year, defense would be set at a base budget of $520.5 billion and domestic programs at $491.8 billion.

Increase airline-security fees from $5 to $11.20 for a typical round-trip ticket starting July 1, 2014. That would raise $13 billion over 10 years. Current fees are $2.50 per leg with a maximum fee of $10 for a round-trip with connecting flights or $5 for a nonstop round-trip fare.

Reduce retirement benefits for working-age military retirees. The cost-of-living adjustment would be modified equal to inflation minus 1 percent. The changes would be phased in, with no change in the current year, a 0.25 percent reduction in December 2014 and a 0.5 percent decrease in December 2015. The change would save $6 billion.

Increase by 1.3 percentage points the pension contributions paid by federal civilian workers hired after Jan. 1, 2014. Raise $6 billion.

Restrict access to Social Security death records to prevent identity thieves from filing fraudulent tax returns. Save $269 million.

Raise premiums paid by corporations to the Pension Benefit Guaranty Corp. to guarantee pension benefits. Raise $8 billion.

Eliminate a requirement that the Maritime Administration reimburse other federal agencies for additional costs associated with shipping food aid on U.S. ships. Saves $731 million.

Approve a U.S.-Mexico agreement on oil and gas exploration in waters outside their exclusive economic zones.

Permanently extend a requirement that states receiving mineral lease payments contribute to the federal government’s administrative costs. Saves $415 million.

Source: Associated Press