A bipartisan two-year deal reached by lawmakers will eliminate almost half of the mandated across-the-board cuts to the Pentagon’s fiscal 2014 budget, National Journal reported Tuesday.
“This is a positive outcome for the military and in particular, for the defense industry, ” Loren Thompson, chief operating officer of the Lexington Institute, told the publication.
Sara Sorcher and Stacy Kaper report the agreement allots $520.5 billion in defense discretionary funding over the next year and replaces $63 billion in automatic cuts for defense and non-defense programs through 2015.
“What the sequester relief does is, in effect, reduce the cut to the Pentagon’s base budget in half, ” Thompson added, according to the article.
