From a Rep. Sam Graves news release today regarding automatic budget cuts required under the 2011 Budget Control Act:
“The uncertainty of a looming sequestration is already having a negative effect on small businesses...Many small firms are not confident that contracting opportunities will still be available for them, which inhibits their ability to plan for the future, grow, and save taxpayers even more money. Our economy will lose nearly 2.14 million jobs if the sequester is implemented."
Rep. Sam Graves, in a news release Aug. 1, 2011, after the BCA passed:
"This is just a first step, but it is an important and necessary one. We can no longer continue to kick trillion dollar deficits down the road. We did not get 14 trillion in debt overnight and we will not solve the problem with one vote.
"Moreover, this bill is good for small business because it addresses our out-of-control debt without any job-killing tax increases, which will help provide much-needed certainty for our nation’s most robust job creators."
The sequester is required because the so-called super committee could not reach agreement on a budget plan.