Calls for bipartisan solution to pending fiscal cliff
WASHINGTON – Congressman Charles F. Bass (NH-02) supported legislation in the House of Representatives today that requires the President to submit a report to Congress outlining how his Administration plans to implement the mandated across-the-board sequestration cuts to defense and nondefense discretionary spending that are set to take effect on January 1st as a result of the failure of the Supercommittee.
If current law is not changed before the end of the year, $109 billion in cuts to defense and other domestic programs will take effect immediately for next year alone. According to a recent report by the Aerospace Industries Association, New Hampshire could lose an estimated 6,306 jobs in 2013 if the sequester moves forward.
“I wish today’s legislation wasn’t necessary because Congress was able to find a solution to the sequester, but American families and taxpayers deserve to know exactly what the consequences of the sequestration will be on our military and other programs and how the White House plans to implement the cuts, should they occur next year.
“Our nation is facing a dire fiscal cliff at the end of this year that will have a devastating impact on job creation and economic growth unless Congress takes action now. That’s why I supported the only bipartisan budget plan to be offered earlier this year, modeled after the Simpson-Bowles Commission, that would eliminate the sequester and avoid the fiscal cliff through responsible spending reductions and comprehensive tax reform that would generate new revenue.”
“New Hampshire and this nation need solutions, and the only way to achieve them is to put partisan posturing aside and to build bipartisan compromise. If we do not work together to address these problems now, the results will be disastrous for our economy. I will continue to do everything I can to make sure that doesn’t happen.”
The Sequestration Transparency Act (H.R. 5872) passed the House this afternoon by a vote of 414 to 2 and now awaits action in the Senate.