|Council of Governments, Board of Trade Call on Congress to Stop Sequestration
Over the past several months, the Council of Governments and Board of Trade have been strongly advocating against the automatic, across-the-board federal cuts known as sequestration.
Given that a large share of the region's employment is linked either directly or indirectly to the federal government, the cuts would have a disproportionate impact on metropolitan Washington's economy.
As the latest sequestration deadline approaches on March 1, the two regional organizations have teamed up to ask Congress to prevent the automatic cuts, which will have a debilitating effect on an already fragile economy.
Their joint letter notes the negative regional impacts of sequestration, such as a direct loss of up to $12 million in federal FY 2013 in Metro’s dedicated capital funds. Sequestration will also adversely affect local bond ratings, which will disrupt much needed public works projects.
For more information about sequestration, its potential impact impact on metropolitan Washington's economy, and information on how to urge Congress to stop sequestration, click here.
Release Date: Feb 21, 2013