Democrats Release Plans to Prevent Sequestration
by Patrick Lester, 2/15/2013
On Feb. 14, congressional Democrats unveiled legislation that would cancel across-the-board spending cuts, called sequestration, which are currently scheduled to begin on March 1. The two bills include $120 billion in alternative spending cuts and revenue increases to offset the cost of canceling sequestration.
Both bills include the Buffett Rule, which would impose a 30 percent minimum tax on individuals making over $1 million per year. The bill from House Democrats, the Stop the Sequester Job Loss Now Act, differs slightly from the Senate’s bill, the American Family Economic Protection Act, by discontinuing subsidies to the oil and gas industry.
If sequestration is not averted, it could result in many dangerous predicaments, such as more occupational hazards, fewer food inspections, and a weakened economy. Stay tuned for updates and ways you can help stop cuts to vital programs and protections.