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Supercommittee failure portends yearlong limbo for energy, environment programs http://apocadocs.com/s.pl?1322701759
After four months of pressure campaigns and prognostication, the failure of the so-called congressional "supercommittee" to agree on $1.2 trillion in long-term spending cuts leaves energy and environmental programs in much the same position that they were after the August debt-limit deal: an uneasy limbo.
The flameout of the 12-member panel, created in the hopes of surmounting political acrimony to slash both parties' prized programs, puts domestic discretionary agencies -- such as U.S. EPA and the Energy Department -- in line for two rounds of automatic cuts, both potentially punishing. The first would come about three months into the 2013 fiscal year, when an estimated $39 billion sequester of already-approved spending would hit all agencies in equal proportions. The second would take the form of lower budget caps until 2021.
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[Read more stories about:
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'Doc Michael says:
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Why aren't the automatic cuts in CO2 emissions?
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