Senate Democrats’ Sequester Bill Would Cut Defense $27.5B
February 14, 2013
Senate Democratic leaders on Thursday rolled out their much-anticipated measure to void the first wave of pending cuts to planned defense and domestic spending.
The Democrats’ bill covers only the remainder of fiscal 2013, and calls for $55 billion in spending cuts and $54 billion in new tax revenue. It reflects the kind of “balanced approach” long called for by President Barack Obama and congressional Democrats.
The legislation calls for the cuts to be split between national defense accounts and non-defense accounts. It would slash Pentagon spending by $27.5 billion in fiscal 2013, with an identical amount coming by terminating some agriculture subsidies.
It is expected to be taken up by the full Senate early in the week of Feb. 25, after the chamber returns from a week-long recess.