U.S. legislative procedure reducing spending by the Federal Government
Budget sequestration is a provision of United States law that causes an across-the-board reduction in certain kinds of spending included in the federal budget. Sequestration involves setting a hard cap on the amount of government spending within broadly defined categories; if Congress enacts annual appropriations legislation that exceeds these caps, an across-the-board spending cut is automatically imposed on these categories, affecting all departments and programs by an equal percentage. The amount exceeding the budget limit is held back by the Treasury and not transferred to the agencies specified in the appropriation bills.[1] The word sequestration was derived from a legal term referring to the seizing of property by an agent of the court, to prevent destruction or harm, while any dispute over said property is resolved in court.
The term "budget sequestration" was first used to describe an enforcement procedure of the Balanced Budget and Emergency Deficit Control Act of 1985 (BBEDCA) designed to keep Federal deficits below a maximum level limit. The hard caps were abandoned and replaced with a PAYGO system by the Budget Enforcement Act of 1990, which was in effect until 2002. Sequestration was later included as part of the Budget Control Act of 2011, which resolved the debt-ceiling crisis; the bill set up a Congressional debt-reduction committee and included the sequestration as a disincentive to be activated only if Congress did not pass deficit reduction legislation. However, the committee did not come to agreement on any plan, activating the sequestration plan. The sequestration was to come into force on January 1, 2013 and was considered part of the fiscal cliff, but the American Taxpayer Relief Act of 2012 delayed it until March 1 of that year.
^"A Glossary of Political Economy Terms". Department of Political Science, Auburn University. 2005. Retrieved November 6, 2012.
and 22 Related for: Budget sequestration information
Budgetsequestration is a provision of United States law that causes an across-the-board reduction in certain kinds of spending included in the federal...
ranking member of the House Budget Committee, introduced new taxes and reduced spending to fend off the sequestration, including a Buffett-style tax-rule...
Compounding with Delinquents Jury sequestration, the isolation of a jury Bankruptcy, in Scottish law Budgetsequestration, U.S. legal procedure in which...
The United States budget comprises the spending and revenues of the U.S. federal government. The budget is the financial representation of the priorities...
called the "super committee"), options for a balanced budget amendment, and automatic budgetsequestration. Debt ceiling: The debt ceiling was increased by...
fiscal cliff's tax side while the reduction in spending caused by budgetsequestration was delayed for two months. With ATRA's passage, the CBO projected...
crisis, 2013 United States debt-ceiling crisis, 2013 United States budgetsequestration, and the formation of the Freedom Caucus in January 2015 by a group...
deficit" and "national surplus" usually refer to the federal government budget balance from year to year, not the cumulative amount of debt. In a deficit...
The United States federal budget consists of mandatory expenditures (which includes Medicare and Social Security), discretionary spending for defense,...
Carbon sequestration is the process of storing carbon in a carbon pool.: 2248 It plays a crucial role in limiting climate change by reducing the amount...
things like disaster relief. The United States government operates on a budget calendar that runs from October 1 to September 30. Each year, Congress must...
$320 billion over levels set in the Budget Control Act of 2011 and removes the possibility of budgetsequestration. On September 26, 2019, Congress passed...
renamed the Joint Modernization Command, or JMC. In response to Budgetsequestration in 2013, Army plans were to shrink to 1940 levels, although actual...
Relief Act of 2012, by a margin of 89–8. The bill would delay the budgetsequestration by two months, and bill includes $600 billion over ten years in new...
2010. The Act also addressed the activation of the Budget Control Act of 2011's budgetsequestration provisions. A compromise measure, the Act gives permanence...
results also indicate that the main effect of tax cuts on the government budget is to induce subsequent legislated tax increases." William Niskanen, chairman...
brunt of a series of recommended cuts in late 2010. In light of budgetsequestration in 2013, General James Amos set a goal of a force of 174,000 Marines...
in North America, after Weyerhaeuser Company. Under pressure from budgetsequestration in 2013, the federal government of the United States (IP's largest...
Washington Post. Retrieved December 17, 2010. "Fiscal Cliff, Taxmageddon, Sequestration – What Does It All Mean?". The National Law Review. Drinker Biddle &...
Finnish minelayer Pohjanmaa Fleet Week was canceled due to federal budget cuts (sequestration). On April 8, 2014, the Navy announced that visiting ships would...
Global Information