CSPAN Newsmakers Rep. John Yarmuth July 14, 2024
Their goal was to come up with a deficit reduction plan. The process was under the budget control act, which ultimately passed, they set in motion a system called sequestration. The idea was if these 16 people could not come to an agreement on a way to reduce the deficit, there would be automatic budget cuts put in place. The budget control act as a 10 year duration. It expires after 2021. Right now, if we dont by statute increase the budget levels that are part of the budget control act, we wil...
Source: archive.org