Center for American Progress
March 1, 2013

If Americans thought the so-called fiscal showdown was over, they should think again. Unless Congress strikes a deal today, a series of across-the-board cuts to the federal budget will go into effect that would reduce funding for federal programs by a whopping $85 billion by the end of the year. These automatic spending cuts—which would occur under a process known as sequestration—were intended to force both parties to agree on an alternative deficit-reduction plan out of a mutual desire to avoid swallowing such a painful pill. Millions of hardworking Americans, however, once again find themselves at the precipice of a fiscal showdown that, if left unresolved, will impose real and significant financial harm. Among those Americans who will be hit hardest by sequestration are gay and transgender Americans.