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OMB EXPECTED TO REDUCE SEC. 1603 GRANT SEQUESTER PERCENTAGE

Monday, February 4, 2013 - 8:00AM

The Office of Management and Budget will release guidance in mid-February confirming that the sequester percentage for Treasury grants has been reduced from 7.6 percent to 5 percent of the grant amount, the law firm Akin Gump reports. The firm reports this change is the result of the Taxpayer Relief Act of 2012.

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