Prince William Could Lose Millions if Sequestration Hits, Official Says
Prince William County stands to lose millions of dollars in direct federal funding, the deputy county executive said.
Prince William stands to lose millions of dollars in federal funding if sequestration proceeds as scheduled—and even if the United States doesn't fall off the "fiscal cliff," the county could still face challenges in the upcoming year, a county official said. The federal government is scheduled to cut $1.2 trillion in spending over a 10-year period beginning Jan. 1; half from the domestic budget and half from the defense budget. One hundred forty-nine programs, such as Social Security, are exempt from cuts. While Congress and the White House continue to bat competing proposals to resolve the issue back and forth, sequestration remains the law of the land. The federal government is poised to cut 8.2 percent ($38 billion) in the fiscal …
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Mary C. Stachyra
12:47 pm on Tuesday, December 4, 2012
I will, thanks! It's an interesting issue, and one that's not going away anytime soon. more ›