Sequestration haircut for Section 1603 payments
The Treasury Department said on 4 March that an 8.7 per cent haircut will apply to Treasury cash grants paid for the remainder of this fiscal year due to sequestration. The fiscal year ends on 30 September. A new haircut percentage will have to be calculated for grants paid after that, assuming sequestration remains in effect.
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The June 2013 edition of Chadbourne & Parke’s Project Finance Newswire is available now.
The New York State Department of Labor recently published proposed regulations addressing employer deductions from employee wages.