President Obama today signed into law the Sequestration Transparency Act, which requires the Administration to detail what the $110 billion in sequestration cuts will look like in Fiscal Year 2013. The Administration must issue its report to Congress within 30 days. The bill was a show of bipartisanship in Congress at time when the House and Senate have a hard time agreeing on anything. It passed the Senate by unanimous consent last month and passed the House by a vote of 414-2. Congress is expected to try to negotiate an alternative to sequestration during the lame duck session that will save $1.2 trillion over ten years.
Nancy Conneely, Public Policy Manager
Tags: budget, Congress, funding, President Obama