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
Pursuant to the Balanced Budget and Emergency Deficit Control Act, on March 1, 2013, the President issued the sequestration order which requires automatic spending cuts ("sequestration") as the result of Congress' failure to...more