According to several executives from the defense industry, the possible automatic budget cuts are paralyzing the hiring and investment plans for defense contractors, Reuters reported. In an interview with Reuters July 8,
MoreSix Republican senators and one independent senator want several contractors to submit written information on the potential impact of defense cuts under sequestration. Sen. John McCain’s (R-Ariz.) released the letter Thursday, addressed
MoreA 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
MoreWartime funding is not exempt from cuts under sequestration, according to a recent memo from the Office of Management and Budget. OMB Acting Director Jeff Zients responded to inquiries from Reps. Buck
MoreSenate Armed Services Committee Chairman Carl Levin (D-Mich.) is optimistic that there will be no automatic budget cuts in January, Defense News reports. According to Rick Maze, Levin said that between 80
MoreA million jobs across government and industry are on the line because of impending defense budget cuts under sequestration, a top House lawmaker recently said. In a column for Investors.com, Rep. Buck
MoreBy a largely party-line vote, the House passed a bill to replace defense cuts required under sequestration with cuts to social programs, The Hill newspaper’s Erik Wasson reports. In the 218-199 vote,
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