Knowing of your interest in receiving updates about the federal budget, I am writing regarding recent developments.
As you may know, the Budget Control Act (Public Law 112-25) requires the federal government to reduce spending by at least $1.2 trillion over the next ten years. This reduction will occur through either defined spending cuts or an automatic, across-the-board reduction known as sequestration. Sequestration arbitrarily would cut both defense and non-defense discretionary spending and programs.
You may be interested to know, the Sequestration Transparency Act (H.R. 5872) passed the House of Representatives on July 18, 2012, by a vote of 414-2. This legislation would require the President to submit to Congress a detailed report on the implementation of the mandated sequestration cuts for Fiscal Year 2013. I supported this bipartisan bill because Americans deserve to know how the President plans to administer sequestration cuts, including the specific programs and activities which will be affected. The House previously passed the Sequester Replacement Reconciliation Act (H.R. 5652) in an effort to replace arbitrary, across-the-board cuts with targeted spending cuts and reforms.
Congress must use this opportunity to find a sensible, bipartisan and permanent solution to our spending-driven debt crisis. As a member of the Committee on Ways and Means, rest assured I will continue to promote meaningful spending reforms to balance our budget and pay down our debt. For more information on this issue or to receive additional legislative updates, please visit http://adriansmith.house.gov.
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