Sentences with phrase «deep spending cuts across»
Washington (CNN)- Education Secretary Arne Duncan says a West Virginia school district is laying off teachers due to deep spending cuts across the federal government set to take effect on Friday.
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If Congress spends more than the limits, it automatically triggers across - the - board spending cuts under the federal sequester process and deeper cuts to the military.
Sequestration — deep, across - the - board cuts to nearly all federal spending — is a major component of the triple - threat fiscal cliff, which also includes the expiration of both the Bush - era tax cuts and the temporary payroll tax holiday.
The bipartisan congressional supercommittee's failure to negotiate a national deficit reduction plan triggers automatic, across - the - board spending cuts that will have devastating consequences for schools and students already reeling from deep education cuts at the state level.
But while the people reel from the impact of the major tax increases and deep spending cuts to vital services that are part of the new budget, there is one group that is overjoyed with the state budget that is receiving so much criticism from across the political spectrum.
Under this scenario, if Congress does not reach an agreement to avoid the fiscal cliff, taxes increase on everyone (tax cuts expire) and deep spending cuts are applied across the board.