The White House Office of Management and Budget recently released its report to Congress detailing the impact of sequestration across a variety of agencies, providing some detail as to how programs and offices may be impacted. While the report summarizes overall reductions, it does not specify how the sequestration will impact more granular grant programs or contracting opportunities.
The following highlights cuts across key federal agencies important to energy and environment stakeholders. These spending reductions will be completed by September 30, 2013:
Click here to see tables.
The Treasury Department announced one specific example of the impact of sequestration. It stated publicly that funding awards under the 1603 Grants in Lieu of Tax Credits program made from March 1 through September 30 of this year will face an 8.7 percent reduction. Impacts to other popular programs are to be expected.
Now that the sequestration deadline has passed, Congress will turn its attention to funding the federal government for the remainder of fiscal year 2013. That effort is expected to include some discussion about giving the Administration greater sequestration flexibility in where to find spending reductions as well as restoring some of the money to the Department of Defense.