OMB's Take On Sequestration Brings Contractors Little Relief

Law360, New York (August 1, 2012, 10:04 PM EDT) -- In its first congressional testimony on the executive branch's approach to looming, across-the-board budgets cuts, the Office of Management and Budget provided few new details that could help contractors and agencies as they struggle to plan for cuts designed to be mindless.

Sequestration, a $1 trillion series of automatic cuts that will take roughly 10 percent from all nonexempt federal defense accounts and 8 percent from all nondefense accounts, is a direct result of last summer's debt-ceiling fight in Congress and was meant as a doomsday...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.