News & Analysis as of September 19, 2024

Sequestration › Fiscal Cliff

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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 -

113th Congress Underway by Thomas J. Spulak

King & Spalding on 1/30/2013

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

Important Medicare Provisions Contained in Fiscal Cliff Compromise

King & Spalding on 1/14/2013

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

Washington Insight - Special Edition: Congress Steps Away From Fiscal Cliff

King & Spalding on 1/11/2013

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

Fiscal Cliff II: What’s Next For Tax Reform?

K&L Gates LLP on 1/9/2013

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

American Taxpayer Relief Act of 2012: Extends Production Tax Credit for Wind and Many Other Cleantech Tax Incentives

Morrison & Foerster LLP on 1/7/2013

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

Workplace Policy Institute Client Alert: Falling Over the Fiscal Cliff

Littler on 1/2/2013

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

The Fiscal Cliff and the WARN Act

Miller & Martin PLLC on 12/24/2012

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

Time's Up: Why You Can No Longer Afford to Ignore ACOs

Nossaman LLP on 12/11/2012

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

Election Behind Us: Looking Ahead to the Fiscal Cliff and 2013

Cozen O'Connor on 11/9/2012

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

An Update on Sequestration and Government Contractors

Smith Anderson on 10/23/2012

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

Are We Headed for the “Fiscal Cliff” of Sequestration?

Ogletree, Deakins, Nash, Smoak & Stewart,... on 8/28/2012

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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