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Budget Control Act: Potential Impact of Sequestration on Health Reform Spending
The Budget Control Act of 2011 (BCA) established new budget enforcement mechanisms for reducing the federal deficit over the 10-year period FY2012-FY2021. The BCA placed statutory limits, or caps, on discretionary spending for each of those 10 fiscal years, which will save an estimated $0.9 trillion during that period. In addition, it created a Joint Select Committee on Deficit Reduction (Joint Committee) with instructions to develop legislation to reduce the federal deficit by at least another $1.5 trillion through FY2021. In the event that Congress and the President were unable to enact a Joint Committee bill-as turned out to be the case-then automatic annual spending reductions would be triggered beginning in FY2013. Under the BCA, the reductions would be achieved by a combination of sequestration (i.e., an automatic across-theboard cancellation of budgetary resources) and lowering the caps on discretionary spending. The President was required to order a sequestration of FY2013 budgetary resources on January 2, 2013. However, that deadline was delayed until March 1, 2013, by the American Taxpayer Relief Act of 2012.
This package includes following files:
| # | File Name | Document Date | Order ID: | Number of Pages | Price | |
|---|---|---|---|---|---|---|
| 1 |
R42051.pdf
|
Jan 17, 2013 | R42051 | 21 | $29.95 | Add to Cart |
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R42051.pdf