Budget Control Act of 2011

News & Analysis as of

Pennsylvania Hospitals Challenge Medicare Advantage Plan’s Sequestration Adjustment

On September 22, 2014, twelve hospitals filed a complaint in a Pennsylvania state court against a Medicare Advantage plan, Highmark, Inc., along with its HMO subsidiary, for implementing a two-percent reduction to the...more

Medicare Providers React To New Congressional Budget Deal

A recent Congressional budget deal, the Bipartisan Budget Act of 2013, would exclude hospitals from sequester relief. Medicare provider payment cuts would be extended through 2023, two years longer than the cuts set by the...more

Automatic Reductions in Subsidy Payments for Certain Direct Pay Bonds will Continue for Fiscal Year 2014

Pursuant to the requirements of the Budget Control Act of 2011 and the American Taxpayer Relief Act of 2012, on March 1, 2013, President Obama signed an Executive Order reducing the budgetary authority in accounts subject to...more

Appropriations Process Grinds to a Halt

While the House and Senate Appropriations Committees continue to mark up their respective versions of the FY2014 appropriations bills, this action masks deep divides between the House and the Senate. Both are operating using...more

Appropriations and Sequester – Laying Down Markers

With no budget framework in place, the House and the Senate are both marching to their own drummers and producing appropriations bills based on spending levels detailed in their respective budget outlines....more

The Congressional Appropriations Process – Rewriting the Rules

During the coming summer months, Congress will focus its attention on the appropriations process—an annual exercise that, ideally, ends with a determination of funding for the federal government for the following fiscal year...more

CMS to Congress: Sequestration of Cancer Drug Reimbursement to Continue

A June 3, 2013 letter from CMS Administrator Marilyn Tavenner to Rep. Pete Sessions (R-Tex.) states that the agency does not believe it has any discretion under the Budget Control Act of 2011 to exempt Part B cancer drug...more

Compliance Focus: An Update on Sequestration and Title IV Programs

On August 2, 2011, Congress passed the Budget Control Act (“BCA”) of 2011, which put into place an automatic process of “across-the-board” Federal budget cuts, known as the sequester, to take effect if Congress failed to...more

Sequestration to Reduce Government Payments to Issuers of Certain Qualifying Bonds

March 2013 On March 1, 2013, $85 Billion in automatic reductions in federal spending occurred as mandated by federal law. The automatic budget cuts are known in the parlance of the Beltway as “sequestration.” For issuers of...more

SEQUESTRATION: Preparing Government Contractors for Uncertainty, Cut-Backs and Contract Termination

Current reports from Congress suggest that “sequestration” will likely take effect as early as March 1, 2013. The sequestration is a key part of the Budget Control Act of 2011, which requires the federal government to...more

Health Care Reform Implementation Update - February 19, 2013

Last week another marketplace deadline came and went, Illinois became the 21st state approved to operate a health insurance marketplace, and U.S. senators pressed the HHS official responsible for the bulk of exchange...more

Healthcare Provisions In The American Taxpayer Relief Act - The Good, The Bad And The Ugly

In late night action on December 31, 2012, the American Taxpayer Relief Act of 2012 (ATRA) was passed by the Senate and finalized days later by Congress and the President with a set of tax and spending policy provisions...more

Fixing the Debt: Update on U.S. Fiscal Cliff Crisis (9th Edition) - January 1, 2013

THE LEGISLATION - Following a day of tumultuous House Republican caucus deliberations, at 11:00 pm, the House passed The American Tax Relief Act of 2012, a cliffhanger deal negotiated by Vice President Biden and Senate...more

Consider Taking Advantage of Opportunities in 2012 – Your Taxes May Rise in 2013

As of this writing, it’s difficult to speculate as to what U.S. income tax rates will be in the year 2013. This has become especially apparent due to the effect of the so-called “fiscal cliff” and the results of the November...more

2013 Estate Tax Implications as the Fiscal Cliff Looms

Now that the presidential election is over much of the national chatter has shifted to the “fiscal cliff” looming at the end of the calendar year when the terms of the Budget Control Act of 2011 are scheduled to go into...more

Direct Subsidy Bonds Falling Off the Fiscal Cliff?

Clients that have issued, underwritten or purchased certain Build America Bonds, Qualified School Construction Bonds, Qualified Energy Conservation Bonds, Qualified Zone Academy Bonds and Clean Renewal Energy Bonds should be...more

Super Committee May Target $5 Million Gift Tax Exemption for 2012

As we wind up year 2011 and consider year-end tax planning, there may be an added incentive to accelerate your long-term gift planning to the end of 2011 instead of waiting until 2012. The so-called Super Committee may be...more

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