Federal Budget Negotiations Should Focus on Sequestration
The federal budget negotiations are beginning in order to meet the timeline that policymakers established in the recent deal to re-open government and raise the debt ceiling. While some report that revenue has been kept off the table, this should be a non-starter for federal policymakers seeking a fiscally responsible budget that won’t harm the economy or grow poverty.
The negative impacts of sequestration have recently been calculated at the county level by researchers at the Center for Public Integrity and the Financial Times. The analysis of North Carolina counties shows that not just military communities but research hubs and areas of significant hardship have been negatively impacted by these across-the-board spending cuts. These findings are on top of the growing catalogue of the harm these cuts have caused in the day to day lives of many thousands of North Carolinians. It is clear that policymakers must pursue revenue to replace the across-the-board spending cuts, closing corporate tax loopholes is a good start.