You are here Home » Blogs » Understanding the Sequester. The cuts are split evenly between defense and non-defense, and nearly nine-tenths of the savings come from discretionary appropriations. A full list of exempt programs is available here. There are two main differences between the sequesters in and Secondly, the sequester of discretionary programs was applied across-the-board, whereas the sequester offers some flexibility. It is clear that the sequestration of your estate may have far reaching consequences.
It is therefore advisable that you contact your attorney when faced with sequestration to ensure that you are sufficiently advised on the consequences thereof for your specific circumstances. Natasha Truyens. Home News Articles The consequences of sequestration.
The property of an insolvent All movable and immovable property of the debtor before and after the sequestration, fall within his insolvent estate. Civil proceedings A further consequence of sequestration is that all civil proceedings instituted by or against the insolvent, is stayed until the appointment of a trustee. Employment of insolvent An insolvent is also disqualified from practicing certain professions or careers.
When the Committee failed, backup procedures in the law created an enforcement mechanism of automatic cuts.
On the discretionary side, starting in , the BCA put into place extremely tight spending caps through , with separate caps for defense and non-defense. Instead, Congress passed legislation raising the caps four times: most recently in August, when the Bipartisan Budget Act BBA of raised the discretionary caps for and and suspended the debt limit for two years.
The discretionary caps are enforceable through across-the-board cuts — also referred to as sequestration — if Congress enacts appropriations that exceed the caps. For a table that compares the BCA austerity-level discretionary caps and the caps as modified by the Bipartisan Budget Acts of , , , and see the Appendix.
On the mandatory side, the BCA required across-the-board cuts to non-exempt funding. Congress has extended the mandatory sequester several times. The required spending cuts in the BCA were intended to come half from defense programs and half from non-defense programs. The defense category is the federal budget's national defense function, which includes the Department of Defense, nuclear-weapons related activities at the Department of Energy, and the national security activities of several other agencies such as the Coast Guard and Federal Bureau of Investigation.
Non-defense is everything else. The defense category has few mandatory programs, so nearly all the defense reduction was applied to discretionary programs. How does the Sequestration process start? How long does sequestration last? What are the advantages to sequestration? What are the eligibility criteria for sequestration? What happens after the initial 12 months of sequestration? What happens to my car in sequestration? What is sequestration?
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