On March 8, 2019 the FCC announced the E-rate funding cap for FY 2019. The E-rate program funding cap will be $4,151,395.40 for FY2019, a 2.2% inflation-adjusted increase from FY2018. From Funding Year 1998 through 2010, the funding cap was set at $2.25 billion. In its Sixth Report & Order, the Commission began to adjust the funding cap on an annual basis to account for inflation starting with FY2011.   
The overall requested amount for FY2018 was $2.7 billion which was $1.3 billion under the funding cap last funding year. The FY2019 Form 471 Filing Window closes March 27, 2019 and Funds For Learning will report how much E-rate funds applicants needed for FY2019. 
The FY2019 Inflation Rate FCC Order can be viewed here.