Sequestration to be Enacted – Updated February 28, 2013
The Senate failed to get the votes necessary to advance legislation to replace the sequester. Below are the two bills that were rejected. The cuts will be ordered by the President by midnight Friday, March 1. NARC will continue to work on this and will provide an update tomorrow. Visit NARC’s sequestration website for more information.
S.388 – the Democrat’s plan – REJECTED by a vote of 51 to 49
- Provides $110 billion split evenly between spending cuts and raising taxes.
- Delays sequester until January 2, 2014.
S.16 – the Republican’s plan – REJECTED by a vote of 38 to 62
- Grants the White House Office of Management and Budget flexibility to implement sequester’s $85 billion spending cuts for fiscal year 2013.
- Requires the same amount be cut from federal programs but would give Obama authority to replace cuts to defense with cuts from elsewhere in the budget
- Prohibits tax increases.