A bipartisan budget law takes effect and with it hopefully a positive impact on the economy and prevent another government shutdown. The Bipartisan Budget Agreement provides for $63 billion in additional discretionary spending in 2014 and 2015—in return for a permanent deficit reduction of $85 billion. On net, this bill reduces the deficit by $23 billion.
Additionally, the sequestration has been reduced by the new budget from a reported $91 billion to $31 billion in cuts, many entitlements and the defense budget will still feel the effect of these cuts in the coming year. Clearly, there are many changes Americans need to stay informed about in 2014.
–tyesha litz
