Debt Panel Proposes Deep Cuts To Federal Contracts

Law360, New York (November 11, 2010, 1:36 PM EST) -- A controversial draft plan from a White House deficit commission is proposing billions of dollars in across-the-board reductions to both civilian and defense federal contract spending, doubling down on previously planned defense contract cuts and trimming major procurements by an extra 15 percent.

The draft plan laid out Wednesday by the co-chairs of the bipartisan National Commission on Fiscal Responsibility and Reform, former Sen. Alan Simpson, R-Wyo., and former Clinton chief of staff Erskine Bowles, still has to win the support of its 18-member panel before...
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