Today, the U.S. House of Representatives passed the Sequestration Transparency Act, which will require the President to prepare a report within 30 days of enactment specifying the details of the cuts to discretionary and mandatory spending under the current sequestration.
"While I supported this measure today as a means to generate more transparency in government, I believe that Congress' time would be much better spent working to find a long-term solution to balancing our budget the right way. Many local businesses rely on the federal government for defense contracts. The possibility of massive defense cuts has already affected their hiring decisions. By avoiding the tough issues, this Congress continues to kick the can down the road and create even more uncertainty," Rep. Hochul said.
Last summer, Congress voted to raise the debt ceiling and created the Super Committee, which was tasked with finding a solution to the debt crisis. As a result of the Super Committee's failure, Congress must address the problem or else the sequester will go into effect cutting $109 billion from FY 2013 spending.