House Passes Bill to Stop the Sequester Process and Eliminate Cuts to Defense Spending
October 1, 2012
On September 10, 2012, the House of Representatives passed the “National Security and Job Protection Act” (H.R. 6365). The bill eliminates the across-the-board spending cuts, known as “sequestration,” that are set to take affect under current law on January 2, 2013. The bill revises the discretionary spending limit for fiscal year 2013 downward to $1,047,000,000,000 in new budget authority. The bill also amends the Balanced Budget and Emergency Deficit Control Act of 1985 by decreasing the discretionary spending budget authority by $19,104,000,000. In addition, the bill eliminates any sequestration order issued by the president under the Balanced Budget and Emergency Deficit Control Act of 1985 to carry out reductions to defense spending for fiscal year 2013. The bill further requires the president to send a legislative proposal to Congress to eliminate cuts to defense spending in fiscal year 2013.