United States federal legislation

June 14, 2013 - 10:30am
At a “town hall” meeting in Alexandria, Virginia, on May 14, U.S. Defense Secretary Chuck Hagel announced that civilian defense employees will be furloughed for up to 11 days.

The U.S. government spends more on its military each year than any other nation by far, but it will be a restrained Department of Defense (DOD) that presents itself at this year’s Paris Air Show. That’s because a previously obscure fiscal mechanism known as “sequestration” requires the DOD to cut $41 billion, or roughly 8 percent of its $527 billion base budget, by September 30, the end of the fiscal year on the government’s calendar.

December 9, 2012 - 7:41pm
One of the gargoyles on the National Cathedral in Washington, D.C.

Washington, D.C., seems to be a city that is in perpetual crisis. Now the U.S. government is in conniptions over the “fiscal cliff.” Federal Reserve chairman Ben Bernanke coined that metaphor to describe the tax increases and automatic spending cuts that kick in on January 2 unless Democrats and Republicans somehow tame the $16 trillion national debt.

December 7, 2012 - 9:35am

The divided U.S. government edged closer to the so-called the “fiscal cliff,” a combination of tax increases and automatic spending cuts that will be imposed on January 2 unless political parties reach agreement on a package to reduce the country’s $16 trillion national debt. With 25 days remaining before the measures take effect, the parties were at a stalemate.

November 21, 2006 - 10:42am

There is still a short time remaining to alert Congress about what NBAA calls “harmful” tax proposals in pending federal legislation.

 
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