A Way to Avoid March 1 Mandatory Spending Cuts Is Elusive
As Congress began its Presidents Day recess, lawmakers had yet to act to undo or delay $85 billion in mandatory spending cuts slated to take effect on March 1.
Senate Democrats on Feb. 14 unveiled a $110-billion package of tax hikes and other spending reductions to hold off the budget "sequester" for 10 months. But Senate Minority Leader Mitch McConnell (R-Ky.) dismissed the tax hikes in the plan as "a total waste of time." The cuts were to begin on Jan. 2, but a two-month delay was enacted on that same day.