Chadbourne & Parke

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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