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Senate Rejects Last Sequester Bills

Time for Plan B! Wait, there is no Plan B? As expected, the Senate rejected rival bills aimed at preventing the looming sequester Thursday, meaning that $85 billion in automatic spending cuts will almost definitely kick in on Friday. Bills introduced by both Democrats and Republicans failed to receive the necessary 60 votes to pass. With no other plan in place to stop the sequester, the cuts will now be phased in over the next seven months. According to the Congressional Budget Office, the cuts could lead to the loss of 750,000 jobs this year.

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About Ross Reily

Ross Reily is editor of the Mississippi Business Journal. He is a husband to an amazing wife, dad to 3 crazy kids and 2 dogs. He is also a fan of the Delta State Fighting Okra and the Boston Red Sox.

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