Sequestration to cause billions in spending cuts

March 4, 2013

 

Following Congress’s failure to pass legislation, an $85 billion sequester cut went into effect at 11:59pm on Friday, March 1.  The sequester will result in across the board cuts for all federal defense and non-defense programs, including a $11 billion (2%) cut to Medicare, a $1.6 billion (5.1%) cut to the National Institutes of Health (NIH), a $210 million cut to Food and Drug Administration (5.1%) as well as cuts other public health programs.

 

House and Senate leaders arrived at the White House on Friday morning to discuss possible resolutions but were unable to come to a compromise.  This followed the Senate’s failure to pass two separate proposals that would have reversed the sequester. The option proposed by the Democrats would have raised revenue and cut spending, while the Republican bill would have given authority to the president to cut spending more flexibly.

 

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