NADO Hosts Webinar with Bipartisan Policy Center on Sequestration

Posted on: August 13th, 2012 by NADO Admin

NADO Webinar on Sequestration (http://vimeo NULL.com/47607198) from NADO (http://vimeo NULL.com/nado) on Vimeo (http://vimeo NULL.com).

On August 13, the National Association of Development Organizations (NADO), in partnership with the Bipartisan Policy Center (http://bipartisanpolicy NULL.org/), hosted a webinar on the topic of sequestration and the potential impact on regional development organizations and local governments. Shai Akabas (http://bipartisanpolicy NULL.org/about/staff/shai-akabas), a senior policy analyst from the Bipartisan Policy Center, a Washington, DC-based think tank that promotes bipartisanship and works to address key challenges facing the nation, provided an in-depth look at sequestration and the impact that it could have on the economy as a whole, and federal government spending and programs.

Last year’s Budget Control Act (P.L. 112-25) established the Joint Select Committee on Deficit Reduction (known as the “Super Committee”) that was tasked to find at least $1.2 trillion in deficit reduction over the next ten years.  Unfortunately, the Super Committee was unable to reach agreement on a final deficit reduction plan.

This failure has triggered an automatic process to enforce across-the-board spending cuts to most federal programs, through a process known as sequestration, unless Congress prevents this from taking place before it goes into effect on January 2, 2013.  

So how does this affect regional development organizations and local governments? In the first year alone, Congress will be required to make $109 billion in across-the-board cuts to FY2013 federal government spending.  Automatic cuts will be required to the Department of Commerce’s Economic Development Administration programs, U.S. Department of Housing and Urban Development programs (like the CDBG program), U.S. Department of Transportation programs, U.S. Department of Agriculture programs, U.S. Department of Labor’s workforce programs and many others.

Questions that were addressed during the webinar included:

  • How did we get here?
  • What is sequestration?
  • When will sequestration occur?
  • How will sequestration impact regional development organizations and local government?
  • How would sequestration affect programs like EDA and HUD CDBG?
  • What are the politics surrounding sequestration and the likelihood of it being eliminated or replaced?
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