E&ENews PM headlines —

SPOTLIGHT

1. SEQUESTRATION:

Senate votes down dueling sequester plans

The Senate this afternoon voted down dueling plans to offset or modify looming spending cuts, essentially cementing the reality that the so-called sequester will take effect on schedule tomorrow. A Democratic plan would have replaced the $85 billion in across-the-board spending reductions with cuts to agriculture subsidies and defense programs and the closure of tax loopholes. Republicans offered a bill that would have given President Obama broad discretion to decide what to cut rather than proportioning the cuts equally across almost all federal accounts.

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