Under the Budget Control Act of 2011, a Joint Select Committee on Deficit Reduction was charged with finding at least $1.2 trillion in cuts to the federal budget. Their failure to meet the Thanksgiving deadline means the law will trigger across-the-board budget reductions that would equally affect defense and non-defense programs. This includes up to 2 percent — or $123 billion — in cuts to Medicare providers.
“Hospitals in New York are already slated to experience $15 billion in Medicare and Medicaid cuts under the Affordable Care Act over the next ten years. If sequestration occurs, hospitals will lose another $2.6 billion,” Rep. Towns said. “Cuts like these will severely harm patient access to care and undermine an employment base that supports over 700,000 jobs in New York State.”
Related Articles on the Budget Control Act:
Supercommittee Deal Not Likely by Thanksgiving Deadline; 2% Medicare Cuts to be Enacted
House Members Urge Supercommittee to Protect Critical Access Hospitals
GOP Debt Reduction Committee’s Proposes $1.2T Spending Cuts, Including Medicare
