Senate Dems Propose $110B Sequester Replacement Bill

Law360, New York (February 14, 2013, 7:59 PM EST) -- Senate Democrats on Thursday unveiled a new $110 billion bill designed to head off approximately $84 billion in automatic budget cuts — widely known as sequestration — that become effective March 1.

The bill, known as The American Family Economic Protection Act would replace sequestration through Jan. 2 2014, and includes $55 billion in new revenues and $55 billion in spending cuts, half of which would come from reductions in defense spending, according to a fact sheet released by Senate Democrats on Thursday.

"The American Family...
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