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Congress Approves Bill to Delay Sequestration
Aviation Week: U.S. lawmakers at the eleventh hour approved a deal that will delay across-the-board budget cuts until March 1.
The budget cuts – known as sequestration – were scheduled to take effect on Jan. 2, when the 112th Congress ends. The legislation passed by the Senate and the House on Jan. 1 avoids the so-called fiscal cliff of an increase in taxes coupled with sharp reductions in government spending, which economists had warned could push the nation back into recession.
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