Last week, U.S. Senate Democratic leadership announced it has drafted and plans to introduce legislation averting sequestration cuts scheduled to take effect on March 1. The Senate’s alternative plan would include a mix of tax increases and spending cuts totaling $110 billion. While this bill would prevent sequestration from taking effect this year, the plan is unlikely to receive bipartisan support.  Sen. Harry Reid (D-NV) announced that he plans to hold a vote on this measure when Congress is back in session the week of February 25.