Sequestration is a budget technique characterized by the implementation of automatic mandatory spending cuts if deficit levels exceed a certain threshold. The Budget Control Act of 2011 utilized sequestration... more +
Sequestration is a budget technique characterized by the implementation of automatic mandatory spending cuts if deficit levels exceed a certain threshold. The Budget Control Act of 2011 utilized sequestration to encourage Congress to cut federal spending by 1.2 billion dollars. If Congress fails to make the specified funding cuts, sequestration will kick in and automatic cuts will be made to the federal budget. A good portion of the slated cuts will come from the national security budget.
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The 113th Congress opened this week. In many ways, however, it began in the long shadow of the 112th Congress, which ended on January 3. Numerous issues were either left unresolved or only partially addressed, requiring...more
On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (ATRA), to avert the so-called fiscal cliff. While most popular coverage has focused on ATRA’s changes to the tax code, the new law...more
For months in Washington, and beyond, attention has been focused on the "fiscal cliff" -- the combination of the expiration of the Bush tax cuts and the looming budget cuts referred to as "sequestration." Negotiations led by...more
On January 1, 2013, the Senate and House of Representatives passed the American Taxpayer Relief Act of 2012 (“ATRA”), signed into law by President Obama on January 2. ATRA averts the “fiscal cliff” by making permanent the...more
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
On January 1, 2013, the Senate and the House of Representatives passed the American Taxpayer Relief Act of 2012 (“ATRA”), averting the so-called “fiscal cliff.” The legislation, which was signed by President Obama, extends...more
For those waking up this morning (January 2) wondering if the House passed the Senate bill, the answer is yes, they did. Thus, the country goes over the tax portion of the fiscal cliff, albeit a lower cliff than it was a few...more
As the January 1, 2013, "fiscal cliff" deadline fast approaches, the Senate may be close to a compromise "solution" as we push midnight tonight. Whether a deal will emerge that can pass the House and be signed by the...more
In This Issue: - DOMESTIC POLICY MATTERS - The Fiscal Cliff Debate. On Monday evening, the White House proposed a compromise of raising taxes only on income earners above $400,000 and increasing the amount of...more
Federal spending cuts as a result of the looming fiscal cliff may have an additional impact on federal contractors anticipating layoffs or plant closures. Employers with 100 or more employees are required to provide their...more
Of the healthcare recommendations announced by the Wall Street Journal’s CEO Council last month, ACOs address all four. First of all, the ACO is clearly a new delivery model that uses the “full continuum of care givers.” ...more
The balance of power in Washington remains intact: control of The White House and Congress remains as it was prior to the election. Notwithstanding that balance of power, we are NOT in a status quo political environment....more
Overview. “Sequestration” refers to automatic federal spending cuts put in place by the Budget Control Act of 2011. The cuts go into effect January 2, 2013, unless Congress passes legislation to avoid that result. The...more
Like Thelma and Louise in the movie of the same name driving their convertible over the cliff, or even more analogous, like a bunch of lemmings blindly following their leaders over the precipice, as a nation we may be headed...more
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