Bipartisan Budget Act of 2013
The Bipartisan Budget Act of 2013 was a federal law aimed at reducing the impact of automatic spending cuts known as the sequester. It was designed to provide a two-year budget framework that would stabilize government funding and avoid another government shutdown. The act was supported by both major political parties, reflecting a compromise to address fiscal challenges.
The legislation increased discretionary spending limits for fiscal years 2014 and 2015, allowing for more funding in areas like defense and domestic programs. It also included provisions for revenue adjustments, aiming to improve the overall budget outlook while maintaining essential services for the public.