Wisconsin’s Congressman Paul Ryan introduced HR 5652 on May 9, 2012. Said legislation was passed through the House on May 10, 2012 without a single co-sponsor. See, the different factions can get legislation passed when it is something they consider important.
This legislation, if made law, would generate $310 billion over the next ten years. These revenues are designed to offset the mandatory cuts to defense spending that will occur as a result of the trigger mechanism activated when the so called Supercommittee failed to agree on how $1.2 trillion would be cut from budgeted spending. With the trigger mechanism, by law, the cuts were supposed to be across the board, but what’s in a law?
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