Overview: Just in time for the holiday season: a truce in the ongoing budget battle between Republicans and Democrats. As we have noted, this battle began during the debate and passage of the Budget Control Act of 2011, which mandated $1.2 trillion in domestic and defense spending cuts from fiscal years (“FY”) 2012 through 2021, … Continue Reading
Sounds familiar? The clock ticks towards another fiscal deadline while federal agencies and employees face the threat of another government shutdown. Since the passage of the Budget Control Act of 2011 (Public Law 112-25) and the subsequent sequestration process, Congress and the White House have been locked in an ongoing battle over tax and spending … Continue Reading
Sequestration. It’s a process in Washington where thoughtful decisions on spending and taxation priorities are being replaced with last minute politicking, grandstanding, and eventual 11th hour deal-making. The latest showdown revolves around the March 1st deadline agreed to by Congress and the President in the budget deal negotiated in December (Public Law 112-240). That is … Continue Reading
Last Thursday, Defense Secretary Leon Panetta outlined the Pentagon’s plan to change the priorities of the American military and implement budget cuts accordingly. This follows from last year’s Budget Control Act, which automatically cut $1.2 trillion of defense and non-defense spending when Congress did not pass legislation to reduce the budget. The Pentagon is now … Continue Reading
