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115K Virginia Jobs At Stake From Sequestration, Report Claims

A Richmond, Va.-based trade group estimates that automatic defense budget cuts planned for 2013 will eliminate 115,000 jobs in Virginia, Virginia Business magazine reports.

According to the report, the Virginia Manufacturers Association cited research from the National Association of Manufacturers that claims sequestration cuts would cost one million nationwide by 2014.

In a recent column, House Armed Services Committee Chairman Buck McKeon also claimed sequestration would contribute to more than a million job losses.

President and CEO Brett Vassey said that the cuts would cause a rolling boulder effect not only on the top tier of defense contractors, but the second and third tiers as well.

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