Contractors Will Swallow Pay Cut For More Budget Stability

Law360, New York (December 11, 2013, 7:39 PM EST) -- Federal contracting groups have embraced Tuesday's two-year federal budget deal as a welcome end to the herky-jerky federal budgeting of recent years, accepting a significant cut in allowable contractor salaries in exchange for a more stable business environment.

The deal, announced Tuesday night by Sen. Patty Murray, D-Wash., and Rep. Paul Ryan, R-Wis., would end the cycle of short-term continuing resolutions and budgeting-by-crisis that led to a government shutdown in October after several shutdown scares in preceding months. It would also blunt the impact of sequestration,...
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