As ordered reported by the House Committee on the Budget on May 7, 2012

H.R. 4966 would eliminate certain automatic spending reductions scheduled to take effect in January 2013, as well as reduce the overall limit on discretionary budget authority for fiscal year 2013. Because the provisions of the bill are contingent on enactment of reconciliation legislation as specified in section 201 of H. Con. Res. 112, the budget resolution for fiscal year 2013 as passed by the House, CBO estimates that enacting H.R. 4966, by itself, would have no impact on the federal budget.

read more