Sequestration: What Government Contractors Need To Know
June 26, 2012, 1:02 PM EDT
Law360, New York (June 26, 2012, 1:02 PM EDT) -- With the 2012 presidential election months away, government agencies and contractors continue to speculate about the possible effects of sequestration. Whether sequestration will actually occur is unknown, as congressional legislation and presidential approval of alternative deficit reductions could dramatically curb, if not eliminate, the effects of sequestration.
If sequestration does occur, however, the Congressional Budget Office estimates that eligible defense programs will be cut by 10 percent and eligible nondefense programs will be cut by 8.5 percent in fiscal year 2013. Consequently, contractors should commence preparations...