As year-end approaches there’s a looming threat of across-the-board cuts to federal programs, including education, according to Jennifer House and Paula Love of RedRock Reports. House and Love led a webinar recently explaining the potential impact on education funding and how to improve product positioning and sales in spite of the possible cutbacks. Here are a few of the highlights. Sequestration In 2011, a Congressional committee was established to determine a plan for reducing the federal deficit by $1.2 trillion. As a motivator for Congress to reach an agreement, it was decided that sequestration would be triggered if the issue wasn’t resolved by Thanksgiving. Sequestration, a fiscal policy adopted by Congress, implements automatic budget cuts of previously approved spending. Unfortunately, Congress still has not come to an agreement, and if it fails to do so, sequestration will begin in January 2013. Under this scenario budget cuts will be imposed over a span of nine years until the goal of $1.2 trillion in reductions is met. If this happens, education funding would suffer more than an 8 percent decrease. Amounting to $4.1 billion, these cuts could include $1.2 billion from Title I and nearly $1 billion from IDEA. [Figures found at [...]
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