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In 2011, sequestration was used in the Budget Control Act of 2011 (Pub. L. 112-25) as a tool in federal budget control. [2] This 2011 act authorized an increase in the debt ceiling in exchange for $2.4 trillion in deficit reduction over the following ten years.
The Budget Enforcement Act of 1990 (BEA) (Pub. L. 101–508, title XIII; 104 Stat. 1388-573; codified as amended at scattered sections of 2 U.S.C. & 15 U.S.C. § 1022) was enacted by the United States Congress as title XIII of the Omnibus Budget Reconciliation Act of 1990, to enforce the deficit reduction accomplished by that law by revising the federal budget control procedures originally ...
In both form and process, the Joint Select Committee on Deficit Reduction was an unusual construct in the American federal legislative system. [3] [6] The Base Realignment and Closure process provides a partial precedent. [7]
On August 2, 2011, President Obama signed the Budget Control Act of 2011 as part of an agreement with Congress to resolve the debt-ceiling crisis.The Act provided for a Joint Select Committee on Deficit Reduction (the "super committee") to produce legislation by late November that would decrease the deficit by $1.2 trillion over ten years.
Marc Goldwein, senior director of policy at the Committee for a Responsible Federal Budget, joins Yahoo Finance Live to break down what's in the Inflation Reduction Act that Sen. Manchin (D-WV ...
The National Commission on Fiscal Responsibility and Reform (often called Simpson–Bowles or Bowles–Simpson from the names of co-chairs Alan Simpson and Erskine Bowles; or NCFRR) was a bipartisan Presidential Commission on deficit reduction, [1] created in 2010 by President Barack Obama to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal ...
Apr. 28—In the days after the Grand Forks School Board reversed its decision to cut seven teaching positions from next year's budget, several board members cited a breakdown in the reduction-in ...
Within a week, the Salem Keizer Education Association had identified errors in the reduction-in-force process, said Tyler Scialo-Lakeberg, president of the union, which represents the district's ...