Space Politics reports that the Republican-dominated House Appropriations Committee plans to axe 10% out of the Fiscal Year 2012 budget as proposed by the Obama administration.
Within Exploration, the House bill includes $1.063 billion for the MPCV and $1.985 billion for the SLS, both slightly higher than the administration’s request. In addition, although the text of the legislation doesn’t specifically mention it, the press release accompanying it states that the bill terminates funding for the James Webb Space Telescope because it is "billions of dollars over budget and plagued by poor management."
A chart on the Space Politics web site shows the House committee would take the axe to Science, Space Technology, Exploration, Space Operations, Cross-Agency Support and Construction.
No word on how this affects commercial crew and cargo.