Last week, the U.S. House and Senate passed a Continuing Resolution (CR) that extends the FY 2010 budget until December 18. The original Continuing Resolution expired on December 3.

Both the House and Senate ,the 12 appropriations bills they must now close the budget process through either an omnibus spending bill, which combines all 12 bills in to one, or through yet another CR.

Many speculate that the House will pass a CR that will extend throughout the entire FY2011. The scenario in the Senate is a little less clear. There appears to be some support for an omnibus bill, though it may not be able to garner enough votes for passage. If the Senate does not pass an omnibus bill they could pass a year-long CR, or another temporary CR extending only through the early part of the year. The latter would allow the new Congress to address the issue.