Pete Gallego
-Washington DC
This thing we call "The Sequester" is a manufactured monster.
Approximately two years ago, the 112th Congress passed extreme across-the-board cuts known as sequestration. This budget measure was designed to be so drastic that it was supposed to force a bipartisan compromise on reducing the deficit. All sides seem to agree that the cuts were never meant to happen.
As we now know, there was no compromise. Partisan gridlock got in the way of good public policy. On March 1, 2013, sequestration took effect. It threatens the future of Texas families and the economic prosperity of our state. According to the non-partisan Congressional Budget Office, sequestration would cut economic growth in 2013 by one-third. A report from the House Committee on Appropriations projected a loss of 2.14 million jobs, nearly half of which would come from small businesses.
A 2012 George Mason University study estimated that Texas could lose almost 160,000 jobs. Data compiled by the Pew Charitable Trusts shows that in the area of defense, Texas would be among the hardest hit. Of particular importance to this committee today, is the impact of the sequester on border security, trade, and commerce.