Obama Urges Tax Reform, Spending Cuts To Delay Sequester

Law360, New York (February 5, 2013, 9:28 PM EST) -- President Barack Obama asked Congress on Tuesday to delay sequestration for a second time and pay for the delay through a combination of tax reform and spending cuts, rather than risk triggering a "self-inflicted" wound to the economy by allowing the automatic budget cuts to happen.

Sequestration, a series of across-the-board budget cuts that will slash about $100 billion from federal budgets in 2013 and $1 trillion over a decade, is due to begin March 1, after a two-month delay was negotiated as part of the...
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