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Sequestration › Federal Budget

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... 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.  less -
Bracewell LLP

SLGS Window Reopening; Sequestration Extended Through FY 2029

Bracewell LLP on

The Bipartisan Budget Act of 2019 (the “Act”), which suspends the federal debt limit through July 31, 2021, was signed into law on August 2, 2019. As a result, the U.S. Department of the Treasury has announced that it will...more

Bracewell LLP

FY 2019 Sequestration Reduction Rate for Direct Pay Tax Credit Bonds Set at 6.2 Percent

Bracewell LLP on

According to the IRS website, the sequester reduction rate applied to payments made to issuers of direct pay tax credit bonds in fiscal year 2019 will be 6.2 percent. This percentage will apply to all subsidy payments...more

King & Spalding

Budget Deal to Limit Provider-Based Status, Extend Sequestration

King & Spalding on

On October 28 and 30, 2015, the U.S. House of Representatives and U.S. Senate approved the Bipartisan Budget Act of 2015 (the Act)—a measure designed to raise the limit on Federal borrowing that would also have significant...more

McDermott Will & Emery

Congress Take Step Toward Site-Neutral Medicare Payments in Bipartisan Budget Act of 2015

McDermott Will & Emery on

On October 28, 2015, the U.S. House of Representatives approved legislation that, if enacted, would, among other things, substantially alter how and how much Medicare pays for outpatient services furnished by hospitals. The...more

Miller Canfield

State and local governments continue to see a reduction in credits available for Direct Pay Bonds

Miller Canfield on

As a result of federal sequestration, state and local governments who have issued certain direct pay bonds have seen a reduction in tax subsidy payments since March 1, 2013. Sequestration is a result of Congress’ failure to...more

Arnall Golden Gregory LLP

Hospice Cap Demand Group Appeal Deadline

Arnall Golden Gregory LLP on

As you likely are aware, Medicare hospice payments were reduced by two percent in accordance with a sequestration order issued March 1, 2013, pursuant to Section 251A of the Balanced Budget and Emergency Deficit Control Act....more

McDermott Will & Emery

Key Energy-Related Tax Provisions in the 2016 Budget Proposal

McDermott Will & Emery on

In This Issue: - Modify and Permanently Extend the Production Tax Credit - Enhance and Make Permanent the Research and Experimentation Tax Credit - Provide Carbon Dioxide Investment and Sequestration Tax Credits ...more

Locke Lord LLP

Locke Lord QuickStudy: February 2015 Update on Federal Budget Sequestration Affecting Build America Bonds and Other Direct Pay...

Locke Lord LLP on

As we have noted in previous client advisories, under current law, direct pay bond subsidy payments are subject to federal budgetary sequestration through fiscal year 2024. On February 2, 2015, the Office of Management and...more

King & Spalding

President Obama Releases 2016 Budget Proposal Ending Sequester Cuts

King & Spalding on

On February 2, 2015, President Barack Obama delivered his Fiscal Year 2016 budget proposal to Congress. The $4.066 trillion budget contains a sequestration replacement plan that would allow a 7%, or $75 billion, increase in...more

PilieroMazza PLLC

Weekly Update Newsletter - April 2014 #4

PilieroMazza PLLC on

In this issue: - DOD, GSA, and NASA Issue Proposed Rule to Amend FAR Incorporating Section K in Contracts - DOD Issues Final Rule to Amend DFARS Contracting Officer’s Representative (DFAR Case 2013-D023) ...more

Nossaman LLP

Bipartisan Budget Agreement Offers Little Holiday Cheer for Transportation Funding

Nossaman LLP on

Don’t let anyone tell you the Bipartisan Budget Agreement (BBA) enacted this week by Congress and President Barack Obama is good for transportation. The BBA rolls back the sequester of discretionary spending scheduled for...more

Sheppard Mullin Richter & Hampton LLP

New Budget Deal Can Bring Extension of Medicare Sequestration Cuts

Sheppard Mullin Richter & Hampton LLP on

While many in Washington, D.C. are celebrating today the unusual display of bipartisan budgetary comity as the new budget deal is announced, there is a direct and immediate adverse effect for hospitals and physicians. As...more

McDermott Will & Emery

Lawmakers Reach Deal to End Government Shutdown, Raise Debt Ceiling

McDermott Will & Emery on

While the focus over the past 16 days has been on the shuttered government and the prospect of the United States defaulting on its debt obligations, there are subtexts that are relevant to the health care industry. This On...more

Saul Ewing Arnstein & Lehr LLP

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

Saul Ewing Arnstein & Lehr LLP on

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

Foley & Lardner LLP

Doing Business With the Government With Reduced Risk

Foley & Lardner LLP on

Entering into business with the U.S. Government provides companies, including those in the automotive industry, with the opportunity to expand their business base, with tremendous potential. Even with the current budget cuts...more

King & Spalding

The Congressional Appropriations Process – Rewriting the Rules

King & Spalding on

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

Ballard Spahr LLP

HUD Announces New Category of Funding To Address Housing Choice Voucher Funding Shortfalls Resulting from Sequestration

Ballard Spahr LLP on

On May 23, 2013, the U.S. Department of Housing and Urban Development (HUD) issued Notice PIH 2013-12, "Implementation of the Federal Fiscal Year 2013 Funding Provisions for the Housing Choice Voucher Program," (the Notice)....more

Polsinelli

Revisit Surveys To Slow Down Due To Budget Sequestration

Polsinelli on

As of April 5, 2013 and in response to budget sequestration, the Centers for Medicare & Medicaid Services (CMS) warns that revisit surveys for skilled nursing facilities will be delayed and approval requirements for...more

Baker Donelson

Sequestration and its Impact on the Construction Industry

Baker Donelson on

Pursuant to the Budget Control Act of 2011, sequestration is the process by which automatic across-the-board spending cuts are being imposed on government programs. Because Congress was unable to reach an agreement by its...more

Mintz - Employment, Labor & Benefits...

US DOL Releases FY2014 Budget Request

Mintz - Employment, Labor & Benefits... on

On April 10th, the Department of Labor released its fiscal year 2014 budget request. As reported in a press release describing the budget request, the DOL has asked for $12.1 billion in discretionary funding to support...more

Dickinson Wright

Sequestration to Reduce Government Payments to Issuers of Certain Qualifying Bonds

Dickinson Wright on

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

Mintz - Public Finance Viewpoints

Financial Services Legislative And Regulatory Update -- March 25‚ 2013

Mintz - Public Finance Viewpoints on

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Members rushed out of town at the end of last week for a two-week...more

Snell & Wilmer

Under Construction - March 2013: The Ever-Shrinking Federal Budget: Preparing for Contract Cut-Backs

Snell & Wilmer on

On March 1, 2013, President Obama signed the order directing “sequestration” to go into effect. As has been repeated constantly leading up to sequestration, $85 billion will now be cut from the federal government’s budget...more

Cozen O'Connor

Infrastructure Alert - March 13, 2013

Cozen O'Connor on

Sequestration began on March 1, and federal agencies are still in the process of sending out furlough notifications and determining specific program cuts. The continuing resolution authorizing current federal spending will...more

Mintz

Sequestration: Responding to Government Contract Delays and Changes

Mintz on

Recent hardening of the rhetoric between Congressional Republicans and the White House is leading to growing acknowledgment that across-the-board reductions in federal agency budgets are likely to be imposed, at least...more

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