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Spotlight On Sequestration
December 4, 2013
In addition to three new and notable bills we've recently scored, NTUF is dedicating a portion of this week's edition of The Taxpayer's Tab to an issue that could play a pivotal role in the ongoing budget discussions: sequestration.
The automatic, across-the-board cuts went into effect earlier this year, and have impacted a wide range of government agencies and programs. The budget committee that's been tasked with finding common ground between House and Senate budget proposals is already facing pushback from lawmakers who want the sequester repealed or replaced.
There have been several attempts in the 113th Congress to repeal the cuts that are scheduled to go into effect in 2014. For reference, a brief outline of those bills:
Most of the legislation discussed above varies significantly in scope and specificity, which makes a blanket cost estimate for any attempt at 2014 sequester repeal difficult to formulate. However, NTUF arrived at a score using the $109.3 billion total 2014 sequester level and the Congressional Budget Office's estimate of how outlays would be affected in the case of a 2013 repeal. By analyzing CBO's projected yearly outlay effects as a percentage of that year's total authorizations, we estimated that if the 2014 sequester were repealed entirely, federal spending would increase by $105.6 billion over four years, or $26.4 billion annually. Note that our estimate is preliminary and subject to revision should new information become available.
Whether sequester cuts are maintained, repealed, reduced, or replaced by some combination of tax hikes and other spending reductions, the implications for taxpayers could be significant.
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