President Asks Congress to Delay Sequester

Posted on: February 8th, 2013 by NADO Admin

On February 5, President Obama asked Congress to pass a temporary package of spending cuts and tax reforms that would delay the across-the-board cuts to federal spending scheduled to occur on March 1, 2013.  While the president did not offer any specific proposals on taxes or spending, House and Senate leaders are considering alternatives to delay sequestration.  Under current law, sequestration would cut spending by $85 billion starting on March 1. The Office of Management and Budget (OMB) has announced that defense spending will face a 7.3 percent reduction in funding while non-defense programs will be cut by 5.1 percent. Additionally, Congress could include changes to the sequester cuts in an overall spending package for the remainder of FY2013 or through a more comprehensive agreement on government spending and taxes. The current Continuing Resolution expires on March 27, three weeks after the sequester cuts take effect. Click here (http://www NULL.politico NULL.com/story/2013/02/barack-obama-remarks-on-sequestration-text-87208 NULL.html) to view the transcript of the President’s speech.

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